Tata Capital IPO Opens For Subscription Today: Check Subscription Status, GMP And More

The much-awaited initial public offering of Tata Capital has opened for subscription on Monday, as the company looks to raise more than Rs 15,000 crore, comprising a fresh issue of up to 21 crore equity shares aggregating up to Rs 6,846 crore.

The IPO also has an offer for sale component of up to 26.6 crore equity shares worth Rs 8,665 crore. The price band for the issue is set at Rs 310-326 per share.

As part of the issue, promoter group Tata Sons will divest up to 23 crore shares, while International Finance Corporation (IFC) will sell up to 3.6 crore shares through the OFS route. The company will also issue up to 21 crore shares via a primary raise.

Heading into the IPO open, the company has already raised Rs 4,641 crore through anchor investors.

Kotak Mahindra Capital Company Ltd., Axis Capital Ltd., BNP Paribas, Citigroup Global Markets India Pvt Ltd., HDFC Bank Ltd., HSBC Securities and Capital Markets (India) Private Ltd., ICICI Securities Ltd., IIFL Capital Services Ltd., J.P. Morgan India Private Ltd., SBI Capital Markets Ltd. are all the book-running lead managers, while MUFG Intime India Pvt Ltd. is the registrar.

The lot size for an application is 46 shares, meaning the minimum amount of investment required by a retail investor is Rs 14,996 based on the upper price band.

The allotment of shares to IPO investors will be finalised tentatively on Oct. 9, and the credit to the demat account will be done on Oct. 10. Tata Capital will list on the BSE and NSE on Oct. 13.

• Open date: Oct. 6

• Close date: Oct. 8

• Price Band: Rs 310-326 per share

• Allotment date: Oct. 9

• Listing date: Oct. 13

• IPO size: Rs 15,511 crore

• Fresh issue: Rs 6,846 crore

• OFS: Rs 8,665 crore

• Minimum bid: Lot size of 46 shares

The Tata Capital IPO was subscribed 0.18 times or 8% as of 11:20 a.m. on Monday.

• Qualified institutional buyers (QIB): 0.29 times or 29%.

• Non-Institutional investors (NII): 0.1 times or 10%

• Retail investors: 0.15 times or 15%.

• Employee reserved: 0.49 times or 49%

According to InvestorGain, the GMP for the Tata Capital IPO stood at Rs 7.5 as of 11:36 a.m. Oct 5. It indicates a listing price of Rs 333.5 apiece at a premium of 2.3% on the upper limit of the price band.

Note: GMP does not represent official data and is based on speculation.