Tata Investment Stock Surges As Tata Capital IPO Buzz Surrounds Dalal Street
Shares of Tata Investment Corp. zoomed upwards in early trade on Tuesday as the market remains abuzz with news of the latest initial public offering of the Tata group's flagship financial services arm Tata Capital gearing up to hit the bourses.
Multiple media reports have stated that advisors have been roped in by the Tata group for the mega-IPO, which is expected to be worth over Rs 15,000 crore.
The Tata Group's decision to list Tata Capital aligns with the RBI's mandatory requirement for "upper layer" NBFCs to be listed within three years of receiving notification—by Sept. 2025. As per reports, law firm Cyril Amarchand Mangaldas and investment bank Kotak Mahindra Capital have been roped in as advisors for the listing.
Tata Technologies, an arm of Tata Motors, made a stellar debut on the stock exchanges last year. The stock was listed on the exchanges on Nov. 30, 2023, with a massive premium of 140% over the issue price of Rs 500. The public issue had a price band of Rs 475 to Rs 500 per share and was entirely an offer for sale of 6.08 crore equity shares. The issue was subscribed 69.43 times.
Tata Technologies Ltd. became the first Tata Group company to launch an initial public offer in nearly two decades, with Tata Consultancy Services Ltd. being the last in 2004.
Tata Investment Share Price Today
The scrip rose as much as 12.05% to Rs 7,314 apiece, the highest level since Dec. 11, 2024. It pared gains to trade 10.31% higher at Rs 7,199.95 apiece, as of 10:32 a.m. This compares to a 0.38% advance in the NSE Nifty 50 Index.
It has risen 71.08% on a year-to-date basis. The relative strength index was at 65.98.
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