Tata Capital IPO GMP Today: What Grey Market Signals As Biggest IPO Of 2025 Enters Day 2 Of Subscription

The initial public offering of Tata Capital Ltd., which launched one of the biggest IPOs of 2025 on Monday, recieved a decent response from the investors as the Rs 15,000-crore IPO was booked 39% or 0.39 times on Day 1. According to the BSE data, investors bid for 12,86,33,112 shares against the 33,34,36,996 shares on offer.

The grey market premium for the mainboard issue has remained constant for the last couple of days. Private market investors will continue to closely monitor the GMP for the Tata Capital IPO, which has been topping the 'business & finance' trending charts for the past few days.

The Tata Capital IPO is a book-built issue of Rs 15,511.87 crore. It comprises a fresh issue of 21 crore shares worth Rs 6,846 crore and an offer-for-sale (OFS) of 26.58 crore shares amounting to Rs 8,665.87 crore.

Here's all you need to know about the Tata Capital IPO as subscription enters its second day today.

The grey market premium (GMP) for the Tata Capital IPO was Rs 12.5 as of 9:30 a.m. October 7. It indicates a listing price of Rs 338.5 per share at a premium of 3.83% on the upper limit of the price band.

This means the unlisted shares of the company were trading at Rs 338.5 in the private market, indicating a potential listing gain of up to 3-4% when the shares of Tata Capital debut on the market next week.

The unlisted shares of the non-banking finance company were trading as high as Rs 353 before sliding to Rs 333.5 on October 5. The GMP trends are likely to change once the subscription for the mainboard issue gets underway today.

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

Also Read: LG Electronics IPO GMP Tops The 'Market' Trends As It Opens For Subscription Today

The subscription window for the Tata Capital IPO will remain open till October 8.

One of India’s largest non-banking finance companies (NBFCs), Tata Capital has kept the price band for the IPO between Rs 310 and Rs 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.

The company has raised investments of Rs 4,641.83 crore from large institutions under the pre-IPO anchor round held on October 3. The anchor lock-in period end date for 50% shares is November 8, whereas the anchor lock-in period end date for the remaining shares is January 7, 2026.

To participate in the IPO, retail investors need to bid for a single lot size of 46 shares, requiring an investment of Rs 14,996. The maximum lot size is 13 (equating to 598 shares), amounting to an investment of Rs 1,94,948. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,09,944. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 67 lots. It will lead to an investment of Rs 10,04,732.

Out of the 33,34,36,996 shares on offer, 9,49,24,856 shares are allocated to QIBs, 7,11,93,642 are allocated to NIIs, 16,61,18,498 are earmarked for Retail investors, and 12,00,000 are reserved for the Employee Reserved category.

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 IPO was booked 0.45 times as of 10:33 a.m. on Tuesday.

• Qualified Institutional Buyers: 0.52 times

• Non-Institutional Investors: 0.37 times

• Retail Individual Investors: 0.44 times

• Employee Reserved: 1.35 times

The IPO was booked 0.39 times on Monday.

• Qualified Institutional Buyers: 0.52 times

• Non-Institutional Investors: 0.29 times

• Retail Individual Investors: 0.35 times

• Employee Reserved: 1.10 times

QIB's bid for 4,93,98,848 shares against the 9,49,24,856 shares on offer, NII's bid for 2,03,73,676 shares against the 7,11,93,642 shares on offer, and RII's bid for 5,75,40,986 shares against the 16,61,18,498 shares on offer.

The Tata Capital IPO allotment status is expected to be finalised on October 9. The company will transfer shares to the demat accounts of successful bidders on October 10, and refunds to non-allottees will be done on the same day. 

Shares of Tata Capital Ltd. are scheduled to be listed on the BSE and NSE on Monday, October 13.

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.

Tata Capital is a non-banking financial company (NBFC) that offers financial products and services to retail, corporate, and institutional customers. It is a subsidiary of Tata Sons Ltd.

In the quarter ended June, the NBFC posted revenue of Rs 7,665 crore in comparison to Rs 6,546 crore it 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.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.