Tata Capital's $2.2B IPO to value it at $20B
Tata Capital is set to launch a massive $2.2 billion IPO in early September 2025, bumping its valuation up to as much as $20 billion (way up from the earlier $11 billion estimate).
This move follows strong investor interest after its recent rights issue and the buzz around HDB Financial Services's own successful IPO.
Tata Capital's massive IPO
If all goes as planned, Tata Capital will become India's fourth-largest shadow bank—right behind big names like Bajaj Finance and Bajaj Finserv.
The Reserve Bank of India has asked all shadow banks to list by September, so Tata Capital is updating its draft for public review.
With Indian IPOs expected to cross $30 billion by 2026 and more big names like LG Electronics lining up, it looks like the country's stock market is just getting started.
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