Tata Capital's ₹15,500cr IPO opens next week: Key details
Tata Capital, part of Tata Sons, is opening its IPO for public subscription from October 6-8, 2024.
The company aims to raise ₹15,512 crore by offering 47.58 crore shares priced at ₹310-326 each.
The issue includes both new shares and an offer for sale from Tata Sons.
LIC among anchor investors
Ahead of the main event, Tata Capital allotted 14.24 crore shares worth ₹4,642 crore to big-name anchor investors.
LIC alone took up over 15% of this anchor chunk for ₹700 crore.
Shares are set to list on NSE and BSE on October 13, 2024.
What does Tata Capital do?
Founded in 2007, Tata Capital is a major non-banking financial company (NBFC).
It offers everything from personal loans and business finance to wealth management and credit cards through its subsidiaries like Tata Capital Housing Finance (home loans) and Tata Securities (stock market services).
Valuation, investor interest
The IPO has attracted top domestic and global investors—think ICICI Prudential MF, Nippon India MF, Morgan Stanley, Goldman Sachs, Nomura, Motilal Oswal MF, and Norway's Government Pension Fund Global.
Their backing signals strong confidence in the company's future—and values it close to ₹1.38 lakh crore at the top price band.