Tata Capital Ltd. is set to launch its initial public offering (IPO) on Oct. 6, 2025, with the issue closing on Oct. 8, 2025, according to the company’s red herring prospectus. The IPO will raise up to Rs 15,511 crore and comprises a fresh issue of up to 21 crore equity shares aggregating up to Rs 6,846 crore and an offer for sale (OFS) of up to 26.6 crore equity shares worth Rs 8,665 crore. The price band for the issue is set at Rs 310-326 per share.
Promoter Tata Sons will divest up to 23 crore shares, while International Finance Corporation (IFC) will sell up to 3.6 crore shares through the OFS route. The company will also issue up to 21 crore shares via a primary raise.
Kotak Mahindra Capital Company Ltd., Axis Capital Ltd., BNP Paribas, Citigroup Global Markets India Pvt Ltd., HDFC Bank Ltd., HSBC Securities and Capital Markets (India) Private Ltd., ICICI Securities Ltd., IIFL Capital Services Ltd., J.P. Morgan India Private Ltd., SBI Capital Markets Ltd. are all the book-running lead managers, while MUFG Intime India Pvt Ltd. is the registrar.
The lot size for an application is 46 shares, which means the minimum amount of investment required by a retail investor is Rs 14,996 based on the upper price band. Small institutional investors will need to buy a minimum of 14 lots aggregating to 644 shares, which means they will need to invest Rs 2.09 lakh and big institutional investors will have to buy a minimum of 67 lots, that is an investment of at least Rs 10.04 lakh.
The allotment of shares to IPO investors will be finalised tentatively on Oct. 9, and the credit to the demat account will be done on Oct. 10. Tata Capital will list on the BSE and NSE on Oct. 13.
The public issue is expected to be among the most closely watched offerings of the year, given Tata Capital‘s position as the financial services arm of the Tata Group.
The company will seek investments from large institutions under the pre-IPO anchor round on Oct. 3, 2025.
