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last mo.

Tata Capital Targets Late-September $2 Billion IPO, With Listing Tipped for Sept. 30

The deal responds to an RBI listing mandate for upper‑layer NBFCs, with fresh funds earmarked to strengthen Tier‑1 capital.

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Overview

  • The updated DRHP details a 47.58 crore-share offer, including 21 crore fresh shares and a 26.58 crore offer for sale by Tata Sons (23 crore) and IFC (3.58 crore).
  • Reports indicate an expected valuation near $11 billion, which would make it the largest public issue in India’s financial sector if achieved.
  • Media accounts cite a launch in the week of September 22 and a likely September 30 debut, though the company has not formally announced the dates.
  • Filings show Tata Sons holds 88.6% of Tata Capital and IFC 1.8%, and the offer includes an employee reservation of up to 5% of post-offer equity.
  • Recent disclosures highlight gross loans of about Rs 2.26 lakh crore as of March 2025 and Q1 FY26 consolidated net profit of roughly Rs 1,041 crore.