The initial public offering (IPO) of Tata Capital was oversubscribed 1.95 times on the third and final day of bidding on October 8. The IPO received bids for 65,12,29,590 shares against 33,34,36,996 offered.
The Qualified Institutional Buyers (QIBs) booked the issue 3.42 times. The Non-Institutional Investors’ (NIIs) category was subscribed 1.98 times. Retail investors booked their quota 1.10 times.
The IPO share allotment status is expected to be finalised on October 9. The company is expected to process refunds for non-allottees on October 10. Shares will be transferred to the Demat accounts of the allottees on the same day.
Shares of Tata Capital are tentatively scheduled to be listed on the BSE and NSE on Monday, October 13.
Tata Capital IPO was a book build issue of Rs 15,511.87 crore. It comprised a fresh issue of 21 crore shares worth Rs 6,846 crore and an offer-for-sale (OFS) of 26.58 crore shares amounting to Rs 8,665.87 crore.
The price band for the IPO was set between Rs 310 and Rs 326 per share.
Tata Capital is a non-banking financial company (NBFC) that offers financial products and services. It is a subsidiary of Tata Sons Ltd.
The company will use proceeds from the IPO to augment its Tier–I capital base to meet future capital requirements, including onward lending.
Investors who participated in the IPO can check the allotment status on the websites of BSE, NSE and the issue registrar, MUFG Intime India.
