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Tata Capital's $2B IPO gets RBI nod
Tata Capital, part of the Tata Group, is set to launch a massive $2 billion IPO in early October.
The Reserve Bank of India gave them a short extension from their original late September timeline—mainly to improve transparency in the sector and help mitigate risks.
IPO could value Tata Capital at $18 billion
This public offering aims to raise around ₹17,000 crore and could value Tata Capital at $18 billion.
If it goes as planned, it'll be the largest Indian IPO since Hyundai Motor India's big debut.
Investors are already reacting: Tata Investment Corporation (which owns a stake in Tata Capital) saw its shares jump 3.2% after the news broke.
For now, both Tata Capital and RBI are keeping quiet as the company wraps up its roadshows and paperwork.