Tata Capital IPO Subscription Reaches 0.72 Times on Day 2; Employee Segment Fully Subscribed

Mumbai, Oct 7, 2025: The ₹15,512-crore initial public offering (IPO) of Tata Capital Limited kept surging on Day 2, reaching a subscription figure of 47% as of Tuesday morning, 10:54 a.m. The employee segment was fully subscribed at 1.41 times, while the retail and institutional segments are also showing steady participation. By 3:39 PM, the Tata Capital IPO was subscribed 0.72 times overall, as per the data from BSE.

Tata Capital, the Tata Group’s umbrella financial services company and an RBI-classified Upper Layer NBFC, caters to more than 7.3 million customers in retail, SME, and corporate spaces. In FY25, the company posted a consolidated profit after tax of ₹3,664.66 crore on a total income of ₹28,369.87 crore with a return on equity of 12.6% and a gross NPA ratio of 1.9%.

Tata Capital IPO Subscription Trends

At 3:39 PM (Day 2), the Tata Capital IPO was subscribed 0.72 times overall. The retail category saw a subscription of 0.64 times, while qualified institutional buyers (QIBs), excluding anchor investors, subscribed 0.86 times, and non-institutional investors (NIIs) subscribed 0.68 times. Within the NII segment, bids above ₹10 lakh (bNII) were subscribed 0.53 times, and bids below ₹10 lakh (sNII) were subscribed 0.96 times.

The employee category recorded a subscription of 1.84 times. The IPO offered 33.34 crore shares, of which 23.84 crore shares were bid for, amounting to a total value of approximately ₹7,772.31 crore, with anchor investors fully subscribed at 1 time for 14.23 crore shares valued at ₹4,641.83 crore. Retail investors placed bids for 10.69 crore shares, amounting to ₹3,484.92 crore, while NIIs and QIBs accounted for the remaining subscriptions.

Tata Capital IPO Details

The Tata Capital IPO carries a price band of ₹310-₹326 per share and comprises a total of 47.58 crore shares, including a fresh issue of 21 crore shares and an offer for sale of 26.58 crore shares. The public issue, which opened on October 6 and closes on October 8, 2025, is being listed on NSE and BSE, with NSE serving as the designated stock exchange for the offering.

Prior to the IPO, Tata Capital raised ₹4,641.82 crore from anchor investors on October 3 through the allotment of 14.24 crore shares at ₹326 per share. Prominent domestic anchor investors included LIC, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Aditya Birla Sun Life Mutual Fund, Nippon India Mutual Fund, and Motilal Oswal Mutual Fund, while key international participants comprised Morgan Stanley, Goldman Sachs, Nomura India Investment Fund, and the Government Pension Fund Global (Norway).

The IPO is being handled by a group of top book-running lead managers consisting of Kotak Mahindra Capital, Axis Capital, BNP Paribas, Citigroup, HDFC Bank, HSBC, ICICI Securities, IIFL Capital, J.P. Morgan, SBI Capital Markets, and MUFG Intime India Private Limited as registrar.

The robust Day 2 subscription, particularly the employee segment oversubscription, reflects investor faith in Tata Capital’s strong business model and growth prospects, with sustained interest anticipated until the expiry of the offer period on October 8.

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