Tata Capital IPO Opens Today: ₹4,641.83 Crore Anchor Book Sets Strong Tone for ₹15,511.87-Crore Issue

Mumbai, 6 October 2025: Tata Capital Limited’s much-anticipated ₹15,511.87 crore Initial Public Offering (IPO) opens for public subscription today, marking one of India’s largest financial services listings this year. The issue follows a robust ₹4,641.83 crore anchor book allocation on 3 October 2025, signalling solid confidence from both domestic and global institutional investors.

Tata Capital IPO Anchor Investors Infuse ₹4,641.83 Crore: Strong Global and Domestic Participation

Tata Capital raised ₹4,641.83 crore from 135 anchor investors, allotting 14,23,87,284 shares at the upper price band of ₹326 per share. The anchor segment witnessed active participation from major mutual funds, insurance firms, and foreign institutional investors.

Among domestic institutions, Life Insurance Corporation of India (LIC) subscribed to 2.14 crore shares, investing ₹699.99 crore. Leading fund houses such as ICICI Prudential Mutual Fund, HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, and DSP Mutual Fund collectively secured around 54 lakh shares each across multiple schemes.

The anchor list also featured marquee global investors, including Morgan Stanley, Goldman Sachs, Nomura India Investment Fund, Government Pension Fund Global (Norway), WCM Investment Management, and Amansa Holdings, reflecting international confidence in the company’s long-term fundamentals.

Tata Capital IPO ₹15,511.87-Crore Issue Opens October 6 and Closes October 8

Tata Capital IPO is a book-built issue comprising a fresh issue of 21 crore shares aggregating ₹6,846 crore and an offer for sale (OFS) of 26.58 crore shares worth ₹8,665.87 crore, taking the total issue size to ₹15,511.87 crore.

The issue will remain open from October 6 to October 8, 2025, with a price band of ₹310–₹326 per share and a face value of ₹10 per share. Listing is proposed on both BSE and NSE, with NSE as the designated exchange.

As per the tentative timeline, basis of allotment will be finalised on October 9, 2025, and listing is expected on October 13, 2025. Retail investors can bid for a minimum of 46 shares (₹14,996 at the upper price band) and in multiples thereof.

Tata Capital IPO PAT ₹3,655.02 Crore, ROE 12.6%, Total Income ₹28,369.87 Crore in FY25

Tata Capital Limited, the flagship financial services arm of the Tata Group, operates as a Reserve Bank of India (RBI)-classified Upper Layer Non-Banking Financial Company (NBFC). The company serves over 7.3 million customers across retail, SME, and corporate segments.

For the financial year ended 31 March 2025, the company reported a profit after tax (PAT) of ₹3,655.02 crore, a total income of ₹28,369.87 crore, and a return on equity (ROE) of 12.6%, demonstrating steady year-on-year growth.

Tata Capital’s debt-to-equity ratio stood at 6.60, with a price-to-book value of 4.10 and return on net worth (RoNW) of 11.2%, indicating a strong financial position. Growth in consumer loans, housing finance, and infrastructure lending, along with prudent risk management, has bolstered the company’s performance trajectory.

Tata Capital IPO Use of Proceeds: Strengthening Tier I Capital and Supporting Business Expansion

The company plans to utilise proceeds from the fresh issue for augmenting Tier I capital to support its future lending operations and capital adequacy requirements. The offer for sale will enable Tata Sons Pvt. Ltd. to offload up to 23 crore shares and International Finance Corporation (IFC) up to 3.58 crore shares.

Post-issue, promoter holding is expected to reduce from 95.6% to 85.5%, enhancing the company’s public float while maintaining majority control under Tata Sons.

Tata Capital IPO Institutional Confidence Highlights NBFC Sector Strength

The overwhelming anchor book subscription ahead of the IPO underscores investor faith in the financial services sector and Tata Capital’s consistent performance. The participation of global sovereign and pension funds further reflects the growing global confidence in India’s non-banking financial ecosystem, particularly in companies with diversified lending portfolios and strong corporate backing.

Tata Capital’s digital transformation initiatives, focus on risk-calibrated lending, and its role as the third-largest diversified NBFC in India have contributed to this strong market attention.

Tata Capital IPO Lead Managers and Registrar

The IPO is jointly managed by Kotak Mahindra Capital, Axis Capital, BNP Paribas, Citigroup, HDFC Bank, HSBC, ICICI Securities, IIFL Capital, J.P. Morgan, and SBI Capital Markets as Book Running Lead Managers (BRLMs).

MUFG Intime India Pvt. Ltd. (formerly Link Intime India Pvt. Ltd.) is the registrar to the issue.

Tata Capital’s ₹15,511.87 crore IPO opens for public subscription from October 6 to October 8, 2025, following a strong ₹4,641.83 crore anchor investment. With a listing scheduled for October 13, 2025, the issue reflects robust institutional participation in India’s financial services space, underscoring the scale and credibility of the Tata Group’s financial arm in the domestic capital market.

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