Tata Capital Raises ₹4,641 Crore from Anchor Investors Ahead of Landmark IPO

Tata Capital has secured ₹4,641 crore from anchor investors ahead of its initial public offering (IPO). The company’s IPO committee approved the allotment of 14.23 crore equity shares at ₹326 each, which includes a premium of ₹316 over the face value of ₹10 per share.

The anchor investor subscriptions account for 30% of the total ₹15,511 crore IPO. The issue attracted strong demand from leading global and domestic investors. LIC emerged as the largest anchor, acquiring 2.14 crore shares, representing 15% of the anchor book. Other major participants included Morgan Stanley, Goldman Sachs, Amansa Holdings, Nomura, and the Government Pension Fund Global. Domestic mutual funds also played a significant role, picking up 5.06 crore shares, or 36% of the anchor allocation, through 59 schemes across 18 fund houses, including HDFC, ICICI Prudential, SBI, Kotak, and Axis.

Tata Capital’s ₹15,511 crore IPO—both the Tata group’s largest ever and the biggest by any NBFC—will open on October 6 and close on October 8. Priced in the band of ₹310–₹326 per share (31–32.6 times the face value), the offer values the company at ₹1.32–1.38 lakh crore. Investors are required to bid for a minimum of 46 shares. The floor price aligns with Tata Sons’ earlier rights issue this year, well below the grey-market frenzy that had previously pushed trades above ₹1,000 before global market turbulence impacted equities.

The IPO consists of 47.58 crore shares, including 21 crore fresh shares and a 26.58 crore Offer for Sale (OFS), resulting in an 11% equity dilution. Tata Sons will sell 23 crore shares, while IFC will offload 3.58 crore shares. Proceeds from the fresh issue will strengthen Tata Capital’s Tier-I capital, while funds from the OFS will go to the selling shareholders.