Tata Capital's IPO nearly doubles up: What to know
Tata Capital's IPO just wrapped up on October 8 and was nearly twice oversubscribed—over 65 crore shares were bid for, compared to the 33.34 crore on offer.
Priced between ₹310-326 per share, this is India's biggest IPO of 2024 so far, valuing the company at about ₹1.38 lakh crore.
Most of the action came from big institutional investors, but retail buyers joined in too.
NBFC is part of Tata Group
Tata Capital is a major NBFC under the Tata Group, offering loans and wealth management services to everyone from individuals to large companies across India.
They've built a strong branch network and hold an AAA credit rating—though experts note some risks like rising borrowing costs and a 1.9% ratio of Gross Stage 3 loans.
Shares will list on October 13
Money raised will boost Tata Capital's capital base for future growth—a move that also meets RBI listing rules for top NBFCs.
Allotment happens October 9; shares are expected to list on BSE and NSE on October 13.