Tata Capital’s Rs 15,511 Crore IPO to Open on October 6, Largest Ever from Tata Group

Tata Capital is set to launch its Rs 15,511 crore initial public offering (IPO) on October 6, marking the largest-ever IPO from the Tata Group and the biggest by any non-banking financial company (NBFC) in India. The issue will remain open until October 8, with anchor investor bidding scheduled for October 3.

The IPO is priced in a band of Rs 310–326 per share, valuing the company between Rs 1,31,591 crore and Rs 1,38,383 crore. The floor price represents 31 times the face value of the shares, while the cap price is 32.6 times. Investors can bid for a minimum of 46 shares, with multiples allowed thereafter.

The offering comprises up to 47.58 crore shares, including a fresh issue of 21 crore shares and an offer-for-sale (OFS) of 26.58 crore shares, resulting in an 11% equity dilution. Tata Sons, the promoter, will sell up to 23 crore shares, while the International Finance Corporation (IFC) will offload 3.58 crore shares.

The fresh issue of 21 crore shares will raise capital for Tata Capital, which will flow directly to the company to support corporate purposes, including strengthening its Tier-I capital base. The remaining 26.58 crore shares offered via OFS will provide proceeds to the selling shareholders, primarily Tata Sons and IFC, and will not dilute existing shareholders, as ownership is merely transferred.

This IPO marks a significant milestone for Tata Capital and the NBFC sector, offering investors an opportunity to participate in one of India’s largest financial services companies while supporting its capital expansion plans.