Tata Capital IPO sets price band at ₹310 to ₹326 per share: Here's a look at lot size, objectives, key dates and more

Tata Capital IPO: Non-banking financial company (NBFC) Tata Capital has set a price band of ₹310 to ₹326 crore for its ₹15,511.9 crore initial public offering, which will open on October 6.

The bidding for anchor investors will take place on October 3. The issue will conclude on October 8.

The initial share sale is a mix of fresh issuance of shares valued at ₹6,846 crore and an offer for sale of shares aggregating to ₹8,665.9 crore.

Under the OFS route, promoter Tata Sons Pvt Ltd is offloading up to 230,000,000 shares, while investor International Finance Corporation is divesting 35,824,280 crore.

The fresh issue proceeds will be used to strengthen the NBFC's Tier-1 capital base, supporting future capital needs, including onwards lending.

Tata Capital IPO: Lot size

A lot consists of 46 shares and multiples thereof. Half of the net offer has been reserved for qualified institutional buyers, 35% for retail investors and rest 15% for non-institutional investors.

Tata Capital IPO timeline: Allotment and listing dates

The issue's book-running lead managers include Axis Capital, BNP Paribas, HDFC Bank, HSBC Securities and Capital Markets (India) Private Limited, Kotak Mahindra Capital Company, ICICI Securities, IIFL Capital Services, Citigroup Global Markets India Private Limited, SBI Capital Markets and JP Morgan India.

The IPO is being undertaken to meet the Reserve Bank of India's (RBI) listing mandate for upper-layer NBFCs, which necessitates them to be listed on bourses within three years of classification. The Tata Group firm was designated as an upper-layer NBFC in September 2022.

In a similar move, HDB Financial Services, the non-banking unit of the HDFC Bank, listed in June after a ₹12,500 crore issue. Bajaj Housing Finance Ltd, another upper-layer NBFC, made a robust market debut in September 2024 at 114% premium.

For the financial year 2024-25, Tata Capital posted a profit after tax (PAT) of ₹3,655 crore, reflecting an increase from ₹3,327 crore in FY24. Its revenue from operations also saw a sharp uptick to ₹28,313 crore in FY25 from ₹18,175 crore in the previous fiscal year.

Since starting lending operations in 2007, Tata Capital has served over 70 lakh customers as of March 2025. With an array of lending products, the firm caters to a wide customer base, including self-employed and salaried individuals, small businesses, SMEs, entrepreneurs, and corporates.

The company also distributes third-party products like credit cards and insurance, offers wealth-management services (WMS) and acts as a sponsor and investment manager to private equity funds.