Brace yourself for the biggest initial public offering (IPO) of the year. Tata Capital will be opening for bidding today, October 06. The company will be mopping up a sum of Rs 15,511.87 crore, making it the fourth largest issue in nearly 2 decades. The IPO is a mix of 21 crore fresh shares aggregating to Rs 6,846 crore and an offer for sale of 26.58 crore shares amounting to Rs 8,665.87 crores.
| Tata Capital IPO | Key IPO Details |
| Price Band | Rs 310 – 326 |
| GMP | 2.8% |
| IPO Allotment | October 9 |
| Listing Date | October 13 |
Tata Capital IPO: Issue price
The Tata Capital IPO price band is between Rs 310 – 326 per equity share. You can bid for the issue between October 6-8.
Tata Capital IPO GMP
The Tata Capital IPO GMP has been trending lower. From a grey market premium of Rs 28 on September 28 to just Rs 9 as of the last update on October 6, there is a definite downward movement. At the current GMP, the issue may list at a small Rs 9 premium to the issue price. However, readers must remember that GMP is the unofficial indicator, and the actual listing price can be very different.
Tata Capital IPO: Objectives of listing
One of the primary objectives of the proceeds of the fresh share issuance is to augment the Tier-1 capital base. Apart from this, Tata Capital also plans to meet future capital requirements, including onward lending, using the proceeds of the fresh issue. A portion of the proceeds from the fresh issue will be used towards meeting IPO expenses as well.
Tata Capital IPO: Allotment and listing
The allotment for the IPO is expected to be finalised on October 9, while the listing on the exchanges, BSE and NSE, is likely to be on October 13, as per the tentative schedule.
Tata Capital IPO: Lot size
A retail application needs to apply for at least 46 shares in a lot, which amounts to Rs 14,996. The lot size investment for a small NII is 14 lots of 644 shares, aggregating to Rs 2 lakh, and for a big NII, it is 67 lots of 3,082 shares, totalling Rs 10 lakh.
Tata Capital IPO: BRLM and registrar
Kotak Mahindra Capital is the book-running lead manager for the IPO, and MUFG Intime India is the registrar of the issue.
About Tata Capital
Tata Capital is the Tata Group’s flagship financial services company. It is a non-banking financial company (NBFC). As per the RBI directive, Tata Capital needs to list within 3 years of being notified as an ‘upper-layer’ NBFC. The deadline for listing ended in September. Tata Capital is the third-largest diversified NBFC in India with a gross loan book of Rs 2,26,550 crore as of March 2025. It is also one of the fastest-growing NBFCs.
Tata Capital IPO: Expert’s take
Tata Capital seeks to reduce its credit cost ratio below 1% by strengthening risk management and credit underwriting, supported by digital tools and analytics. By maintaining a diversified loan portfolio across products, customers, and geographies, and increasing the share of secured lending, the company minimises concentration risks, said Anand Rathi Research in an IPO note.
“At the upper price band company is valued at P/E of 32.3x, P/B of 3.5x to its FY25 earnings and market cap of Rs 1,38,382.7 crore post issue of equity shares. We believe that the IPO is fully priced and recommend a ‘Subscribe-Long Term’ rating to the IPO,” said the broker.