Tata Capital's ₹15,512cr IPO to open on October 6
Tata Capital, the financial services arm of Tata Group, is set to launch its IPO on October 6, aiming to raise ₹15,512 crore with shares priced between ₹310 and ₹326.
This is India's fourth-largest IPO so far.
The offer includes a fresh issue of 21 crore shares (₹6,846 crore) and an offer-for-sale of 26.58 crore shares by Tata Sons and IFC.
What does Tata Capital do?
Started in 2007, Tata Capital is a non-banking financial company (NBFC) that gives out commercial and personal loans, manages wealth for clients, and distributes Tata Cards.
Its main subsidiaries include Tata Capital Housing Finance (for home loans) and Tata Securities (stock market services).
The company serves over 70 lakh customers across both retail and institutional segments.
Financials and offer details
Anchor investor bidding opens October 3 with a minimum lot size of 46 shares.
After the IPO, Tata Sons's stake will drop from 88.6% to 78.8%.
You can subscribe from October 6-8. To attract more retail investors in today's market conditions—where unlisted prices are much higher—Tata Capital revised its price band.
For FY24, it reported a solid profit after tax of ₹3,655 crore.