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Tata Capital's IPO price band is set at Rs 310-326 per share
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The Rs 15,511-crore IPO opens on October 6 and closes on October 8
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Promoter Tata Sons will sell up to 23 crore shares via offer for sale
Tata Capital Ltd. announced its initial public offering (IPO) price band at Rs 310-326 per share, according to a public advertisement released on Monday. The Rs 15,511-crore IPO is scheduled to open for subscription on Dalal Street on Oct. 6 and close on Oct. 8.
The IPO comprises a fresh issue of up to 21 crore equity shares aggregating up to Rs 6,846 crore and an offer for sale (OFS) of up to 26.6 crore equity shares worth Rs 8,665 crore. The face value of each share is Rs 10.
Promoter 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 invite investments from large institutions in the pre-IPO anchor round on Oct. 3.
Bids can be made for a minimum of 46 equity shares, requiring an investment of Rs 14,996.
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.
The public issue is expected to be among the most closely watched offerings of the year, given Tata Capital's position as the financial services arm of the Tata Group.
Tata Capital proposes to use the fresh issue proceeds for augmenting its tier–I capital base to meet its "future capital requirements, including onward lending," arising out of the growth of the business.
Further, a portion of the proceeds from the fresh issue will be used towards meeting offer expenses.
Once the listing goes through, Tata Capital will be the 17th Tata Group company to be publicly traded.
In the quarter ended June, the NBFC posted a revenue of Rs 7,665 crore in comparison to Rs 6,546 crore posted in the corresponding period last year. The company's profit for the quarter more than doubled at Rs 1,041 crore, against Rs 472 crore reported in the quarter ended June 2024.
For fiscal 2025, Tata Capital reported a profit of Rs 3,655 crore, an increase from Rs 3,327 crore in the previous fiscal, while its revenue surged to Rs 28,313 crore from Rs 18,175 crore.
Kotak Mahindra Capital Co., Axis Capital Ltd., BNP Paribas, Citigroup Global Markets India Pvt., and HDFC Bank Ltd. are among the 10 book-running lead managers for the issue.
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