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4h ago

Tata Capital Lines Up $2 Billion IPO for Early October After RBI Grants Brief Extension

A short waiver to its mandatory listing deadline gives the Tata group lender room to finalize filings and pricing for a launch window next month.

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Overview

  • Tentative timing points to the first half of October, with sources saying the company will wrap roadshows and submit an updated DRHP before setting terms.
  • The offer is expected to raise about ₹17,000 crore at an approximately $18 billion valuation, positioning it as India’s biggest financial-sector listing since Hyundai’s 2024 float.
  • The updated DRHP outlines up to 21 crore new shares and up to 26.58 crore shares via an offer for sale, including as many as 23 crore from Tata Sons and 3.58 crore from IFC.
  • Proceeds from the fresh issue are earmarked to bolster Tier‑1 capital to support lending growth, fulfilling the RBI’s three‑year listing mandate for upper‑layer NBFCs.
  • Investor marketing spanned Hong Kong, Singapore, London, New York and Indian cities, Q1 FY26 profit rose to about ₹1,041 crore on total income of roughly ₹7,692 crore, and the price band and dates remain unannounced.