Tata Capital filed a red herring prospectus with the Securities and Exchange Board of India (Sebi) and the bourses on Friday, taking the Tata Group flagship firm a step closer to its mega IPO.
IPO includes fresh issue and major offer for sale
“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 said.
Tata Capital IPO to open for retail investors on Oct 6 and for anchor investors on Oct 3
The IPO will open to retail investors on October 6, while it will be open for subscriptions by big institutional investors, or anchor investors, on October 3. Reports suggest Tata Capital is looking to raise Rs 16,500 crore to RS 17,500 crore through the offering—the largest in the financial sector.
The Reserve Bank of India (RBI) had granted an extension to the Tata Group NBFC to list its shares on the bourses.