Tata Capital's $2B IPO set for September 22 week
Tata Capital, the financial arm of Tata Group, is set to launch a $2 billion IPO (about ₹17,200 crore) in the week of September 22, 2025.
The company is aiming for an $11 billion valuation and will offer 47.58 crore shares—split between new equity and shares sold by existing investors.
Major shareholders to offload shares
Tata Sons plans to sell 23 crore shares, while IFC will offload 3.58 crore.
Tata Sons currently owns 88.6% of Tata Capital; IFC holds 1.8%.
Shares are expected to list by September 30, 2025.
Steady growth in loan book and profits
Since launching in 2007, Tata Capital has grown its loan book at a compound annual growth rate of 37% between FY23 and FY25, reaching ₹2.26 lakh crore as of March 2025.
Profits have also climbed steadily—up to ₹3,646.6 crore in FY25.
The company offers loans, insurance distribution, wealth management, and private equity fund management.
Strong financials and low bad loans
Tata Capital keeps its bad loans low (just under 2%) and has strong financials—net profit more than doubled year-on-year in Q1 FY26 to ₹1,041 crore.
This IPO isn't just big—it's set to be India's largest financial sector listing in 2025 and follows RBI rules for top NBFCs to go public within three years of recognition (which happened for them in September 2022).