Tata Capital IPO to Open on October 6, Targets ₹15,511.87 Crore Fundraise

New Delhi, September 29, 2025: Tata Capital Limited is set to launch its much-awaited initial public offering (IPO) on October 6, 2025, aiming to raise ₹15,511.87 crore in what will be one of the largest financial services offerings of the year. The three-day subscription window will close on October 8, 2025, with the anchor book opening on October 3, 2025.

IPO Size and Structure

The IPO comprises a total of 47.58 crore equity shares, split into:

• Fresh Issue: 21 crore shares, aggregating to ₹6,846.00 crore
• Offer for Sale (OFS): 26.58 crore shares, aggregating to ₹8,665.87 crore

Post-issue, Tata Capital’s total shareholding will rise from 403.48 crore shares to 424.48 crore shares. The IPO is priced in the band of ₹310 to ₹326 per share, with a lot size of 46 shares. The minimum amount of investment required by a retail investor is ₹14,996 (46 shares) (based on the upper price). The lot size investment for sNII is 14 lots (644 shares), amounting to ₹2,09,944, and for bNII, it is 67 lots (3,082 shares), amounting to ₹10,04,732.

Promoter Holding

• Pre-Issue: 95.6%
• Post-Issue: 85.5%
  The sole promoter of Tata Capital is Tata Sons Private Limited.

The proceeds from the fresh issue will be deployed to strengthen Tier-1 capital and support the company’s future lending requirements.

Market and Regulatory Context

The Tata Capital IPO complies with the Reserve Bank of India’s directive that mandates upper-layer NBFCs to go public within three years of their classification. Tata Capital was placed in this category in September 2022. This is also the Tata Group’s second high-profile listing in recent years, following the success of Tata Technologies’ IPO in 2023.

Tata Capital Reports Robust Growth in FY25

Tata Capital Ltd. demonstrated strong financial performance in the year ending March 31, 2025, with revenue surging 56% to ₹28,370 crore from ₹18,198 crore in FY24, while profit after tax (PAT) grew 10% to ₹3,655 crore. Its assets expanded to ₹2,48,465 crore, up from ₹1,76,694 crore the previous year, reflecting increased lending and investment activities. The company’s EBITDA rose to ₹20,338 crore, indicating robust operational efficiency. Net worth and reserves strengthened to ₹32,588 crore and ₹24,299 crore, respectively, while total borrowings increased to ₹2,08,415 crore to support business growth. Overall, Tata Capital’s FY25 results highlight sustainable expansion, disciplined risk management, and a solid foundation for future lending and financial services.

As of June 30, 2025, the company had ₹2.52 lakh crore in assets and a net worth of ₹32,761.73 crore. Its customer base has surpassed 70 lakh, offering a portfolio of 25+ lending products, ranging from retail loans to SME financing and corporate lending.

The company, which began lending in 2007, has served over 70 lakh customers and offers 25+ lending products to individuals, entrepreneurs, SMEs, and corporates. It also provides wealth management services, insurance and credit card distribution, and private equity fund management.

Tata Capital IPO Timeline

• IPO Opens: October 6, 2025
• IPO Closes: October 8, 2025
• Allotment Date: October 9, 2025
• Refunds & Credit to Demat: October 10, 2025
• Listing Date (BSE & NSE): October 13, 2025

Reservation Breakdown

• QIBs: 49.87% (23.73 crore shares)
• NIIs (HNI): 14.96% (7.11 crore shares)
• Retail Investors: 34.91% (16.61 crore shares)
• Employees: 0.25% (12 lakh shares)
• Anchor Investors: 29.92% (14.23 crore shares)

Lead Managers

The IPO is being managed by a consortium of leading investment banks, including:
Axis Capital, Kotak Mahindra Capital, BNP Paribas, HDFC Bank, HSBC Securities, Citigroup Global Markets, ICICI Securities, IIFL Capital, SBI Capital Markets, and J.P. Morgan India.

Competitive Strengths

• Flagship financial services company of the Tata group
• Third largest diversified NBFC in India, with the most comprehensive lending product suite
• Omni-channel distribution model, comprising our pan-India branch network, partnerships and digital platforms
• Prudent risk culture and robust credit underwriting and collections capabilities
• Digital and analytics at the core of our business
• Highest credit rating with a diverse liability profile
• Consistent track record of strong financial performance
• Experienced management backed by a team of dedicated professionals

With a price band of ₹310-₹326 per share, strong anchor investor participation, and robust financial performance, Tata Capital IPO is set to be one of the most closely watched issues in FY26. Investors should evaluate its valuation against peers in the NBFC sector, where demand has remained strong following recent blockbuster listings.

REF: https://www.tatacapital.com/content/dam/tata-capital/pdf/investors-and-financial-reports/offer-documents/Offer_Documents/Tata Capital Limited_UDRHP-I.pdf
https://www.tatacapital.com/content…/Offer_Documents/tata-capital-limited-rhp.pdf

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