The Tata Capital initial public offering opened for subscription on Monday, with the Rs 15,511.87 crore issue — one of the biggest public offers of the year — priced in a band of Rs 310 to Rs 326 per share.
The IPO, which will close on October 8, comprises a fresh issue of 21 crore shares worth Rs 6,846 crore and an offer for sale of 475.82 million shares worth Rs 8,665.87 crore by Tata Sons and the International Finance Corporation. Proceeds from the fresh issue will be used to strengthen Tata Capital's Tier-1 capital base for future lending operations.
Day 1 demand
By 10:45 a.m. on Day 1, the issue had received bids for 4.68 crore shares against 33.34 crore on offer — an overall subscription of about 14%, according to NSE data. Qualified institutional buyers led with 29% subscription, while non-institutional investors were at 6% and retail investors at 9%.
Before opening to the public, the company raised Rs 4,642 crore from anchor investors including LIC, ICICI Prudential Mutual Fund, Nippon India Mutual Fund, Goldman Sachs, Nomura and the Government Pension Fund Global.
Key dates and grey market
The issue closes on October 8, the basis of allotment is October 9, and shares are slated to list on the NSE and BSE on October 13. Market sources put the grey market premium at around Rs 7.5-8 per share — a 2-3% premium over the upper price band — indicating mild listing gains, though grey market signals are unofficial and volatile.
The lot size is 46 shares. This is the Tata Group's second major listing in recent years, after Tata Technologies' debut in November 2023.
Sources:
Tata Capital IPO Day 1: Strong Demand, GMP, Date & Review — PL Capital
Tata Capital IPO opens next week. GMP, date, price, review, other details in 10 points — Livemint
The IPO, which will close on October 8, comprises a fresh issue of 21 crore shares worth Rs 6,846 crore and an offer for sale of 475.82 million shares worth Rs 8,665.87 crore by Tata Sons and the International Finance Corporation. Proceeds from the fresh issue will be used to strengthen Tata Capital's Tier-1 capital base for future lending operations.
Day 1 demand
By 10:45 a.m. on Day 1, the issue had received bids for 4.68 crore shares against 33.34 crore on offer — an overall subscription of about 14%, according to NSE data. Qualified institutional buyers led with 29% subscription, while non-institutional investors were at 6% and retail investors at 9%.
Before opening to the public, the company raised Rs 4,642 crore from anchor investors including LIC, ICICI Prudential Mutual Fund, Nippon India Mutual Fund, Goldman Sachs, Nomura and the Government Pension Fund Global.
Key dates and grey market
The issue closes on October 8, the basis of allotment is October 9, and shares are slated to list on the NSE and BSE on October 13. Market sources put the grey market premium at around Rs 7.5-8 per share — a 2-3% premium over the upper price band — indicating mild listing gains, though grey market signals are unofficial and volatile.
The lot size is 46 shares. This is the Tata Group's second major listing in recent years, after Tata Technologies' debut in November 2023.
Sources:
Tata Capital IPO Day 1: Strong Demand, GMP, Date & Review — PL Capital
Tata Capital IPO opens next week. GMP, date, price, review, other details in 10 points — Livemint
