Tata Capital plans to raise $2 billion (over ₹17,000 crore) through its upcoming IPO
The issue will open for subscription on October 6, with anchor bids starting October 3, and will close on October 8
The IPO will consist of a fresh issue of 21 crore shares and an offer for sale of 26.58 crore shares
Tata Capital has finally filed its draft red herring prospectus with market regulator Sebi (Securities and Exchange Board of India) on September 26 to launch its much-anticipated $2 billion (over ₹17,000 crore) IPO this year. The public issue of the Tata Group’s financial services arm will open for bidding on October 6.
“The offer comprises a fresh issue of up to 210,000,000 equity shares of face value of Rs 10 each and an offer for sale by certain selling shareholders of the company of up to 265,824,280 Equity Shares,” an exchange disclosure read.
"Further, please note that the Bid / Offer opens on Monday, October 6, 2025 and closes on Wednesday, October 8, 2025. The Anchor Investor Bidding Date shall be Friday, October 3, 2025,” it added.
The company is eyeing $2 billion through its maiden public offering at a valuation of $18 billion. This was a sharp jump from the $11 billion valuation ascribed when Tata Capital filed confidential IPO papers in April.
The IPO will comprise a fresh issue of up to 21 crore equity shares and an offer for sale (OFS) of up to 26.58 crore shares, totalling 47.58 crore shares. Promoter Tata Sons will divest up to 23 crore shares, while International Finance Corporation (IFC) will offload up to 3.58 crore shares.
Currently, Tata Sons owns 88.6% of Tata Capital, with IFC holding 1.8%. Proceeds from the fresh issue will be deployed to augment Tier-I capital and fuel lending growth.
Tata Capital's offering would be the biggest in the country after Hyundai Motor India's $3.3 billion (₹27,870 crore) IPO in October 2024.
It will also mark the Tata Group’s second public listing in recent years, following the debut of Tata Technologies in November 2023.
The public issue is being undertaken in line with the Reserve Bank of India’s (RBI) listing mandate for upper-layer NBFCs, which requires them to be listed within three years of classification. Tata Capital was designated as an upper-layer NBFC in September 2022.
Tata Capital has reported more than doubling of its consolidated net profit to ₹1,040.93 crore for the quarter ended June 2025. In the same quarter last year, the IPO-bound company had reported a profit of ₹472.21 crore.
Total income rose to ₹7,691.65 crore for the quarter under review from ₹6,557.40 crore in the April-June quarter of FY2025.
