Tata Capital files updated DRHP for IPO: What we know about the offer size, financials, and key details

Tata Capital IPO: Non-banking financial company Tata Capital has filed its preliminary papers with the markets regulator, the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering.

According to the updated draft red herring prospectus, the proposed IPO is a combination of a fresh issuance of 21 crore equity shares as well as an offer for sale of 26.58 crore shares.

Under the OFS, Tata Sons will offload 23 crore shares, and the International Finance Corporation will divest 3.58 crore shares.

Tata Capital had filed IPO papers via the confidential route in April and had secured SEBI's approval in July. Following this, companies are required to file an updated DRHP before filing an RHP.

The offer's book-running lead managers are Axis Capital Ltd., Kotak Mahindra Capital Company, BNP Paribas, HDFC Bank Ltd., HSBC Securities and Capital Markets (India) Pvt. Ltd., Citigroup Global Markets India Pvt. Ltd., ICICI Securities Ltd., IIFL Capital Services Ltd., SBI Capital Markets Ltd., and J.P. Morgan India Pvt. Ltd.

MUFG Intime India serves as the registrar.

Tata Capital IPO: Objectives

The funds raised will be utilised for augmentation of the company's Tier-1 capital base to meet future capital requirements, including onwards lending.

"In addition, our company expects to receive the benefits of listing of the equity shares on the stock exchanges, including enhancement of our company’s brand name and creation of a public market for our equity shares in India," it said.

Tata Capital IPO: A look at financials

Tata Capital had posted a 9.86% increase in its net profit to ₹3,655.02 crore in the financial year 2024-25 (FY25). In the year-ago fiscal, its post-tax profit stood at ₹3,326.96 crore.

Its revenue from operations advanced 57.14% to ₹25,719.77 crore in FY25 as compared to ₹16,366.47 crore a year back.

About Tata Capital

Tata Capital is a flagship financial services company of Tata Group and a subsidiary of Tata Sons. It is India's third-largest diversified NBFC, with total gross loans of ₹2,265.5 billion as of March 31, 2025.

Its lending business comprises retail finance, corporate finance and SME finance.