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New Delhi: Tata Capital, the most talked about Initial Public Offer (IPO), of this season is likely to open at the end of September. The non-banking financial company (NBFC) of the Tata Group is mandated to list on the stock market within 3 years of being notified as an ‘upper-layer’ NBFC, as per the RBI guidelines. The deadline ends this September.
Notably, the company is yet to announce any formal date for its IPO launch. PTI reported that all the investor roadshows across major global financial hubs have been done by the Tata Capital and the NBFC is all set to launch its much-anticipated USD 2 billion (Rs 17,200 crore) IPO in the week beginning September 22.
The senior leadership of Tata Capital held meetings in London, New York, Hong Kong, Singapore, and major Indian cities to showcase the company’s diversified portfolio, robust financials, and digital-first growth strategy.
The agency quoted market participants saying that the company has successfully positioned itself and its valuations are now expected to touch USD 18 billion. Notably, Tata Capital’s confidential IPO papers in April mentioned that the valuation stood at USD 11 billion.
Tata Capital IPO, a book build Issue of 47.58 crore equity shares comprises a fresh issue of up to 21 crore equity shares and an offer for sale (OFS) of up to 26.58 crore shares, as per the Draft Red Herring Prospectus (DRHP) filed in August.
Tata Sons, which owns 88.6 per cent of Tata Capital, has announced to divest up to 23 crore shares, while International Finance Corporation (IFC) with 1.86 per cent holding, will offload up to 3.58 crore shares.
The NBFC informed SENI that it will use the proceeds from the IPO to augment Tier-I capital and fuel lending growth.
Tata Capital IPO is the Tata Group's second public listing in recent years. Tata Technologies made its stock market debut in November 2023.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold and crypto assets.)
