Tata Capital has filed its red herring prospectus with SEBI and stock exchanges on September 26, taking the Tata Group’s NBFC one step closer to a mega IPO.
The company will issue 210,000,000 new shares with a face value of ₹10 each. The issue will also include an Offer for Sale (OFS), with promoters selling 265,824,280 shares.
IPO Open for Investment from October 6 to 8
The Tata Capital IPO will open on October 6 and remain open for investors until October 8. The issue will open for anchor investors on October 3.
According to Moneycontrol (reported on September 23), the Tata Group is targeting a $16.5 billion valuation for Tata Capital upon listing.
IPO Could Be Worth ₹16,400 Crore
This IPO could raise around $1.85 billion (₹16,400 crore), making it the largest IPO of 2025 and one of the top 5 IPOs ever. LIC is expected to participate as an anchor investor.
Tata Sons, the Tata Group’s holding company, holds a major stake in Tata Capital. Other stakeholders include IFC, TMF Holdings Ltd, Tata Investment Corporation, Tata Motors, Tata Chemicals, and Tata Power.
Tata Capital Seeks More Time from RBI
As per RBI rules, large NBFCs like Tata Capital must list on stock exchanges by September 30.
However, Tata Capital has requested additional time from the RBI to complete the listing.
Moneycontrol reported on April 5 that Tata Capital had filed draft papers with SEBI and on March 21 that the company had appointed 10 investment banks as advisors for the IPO.
Market Sentiment Remains Weak
The IPO is coming at a time of poor stock market sentiment. Although the Nifty climbed nearly 1,000 points from its August lows, it has lost most of its gains recently.
The market saw a significant decline last week, including on September 26, the final trading day of the week.
