Tata Capital IPO Day 1 Highlights: Tata Capital IPO subscription status was 39% on day 1. The retail portion was subscribed 35%, and NII portion has been booked 29%, Qualified Institutional Buyers (QIBs) portion received 52% bids. The employee portion booked 1.10 times.
The company has received bids for 12,86,33,112 shares against 33,34,36,996 shares on offer, at 17:00 IST, according to data on BSE.
The initial public offering (IPO) of Tata Capital, a non-banking financial company (NBFC), opened for subscription on October 6 and will close on October 8, with a Tata Capital IPO price band set between ₹310 and ₹326 per share. Tata Capital IPO GMP today or grey market premium is ₹7.5.
Tata Capital IPO will consist of 47.58 crore shares in total, which includes a fresh issue of 21 crore equity shares as well as an offer for sale (OFS) of 26.58 crore shares. In the OFS component, Tata Sons plans to sell 23 crore shares while the International Finance Corporation (IFC) will divest 3.58 crore shares.
At present, Tata Sons holds an 88.6% stake in Tata Capital, and IFC has a 1.8% ownership. The funds raised through this IPO are intended to bolster the company’s Tier-1 capital base, which will help support its future capital needs, including lending activities.
Tata Capital, part of the Tata Group’s financial services division, filed its draft IPO papers back in April through a confidential pre-filing process, receiving approval from the Securities and Exchange Board of India (Sebi) in July. Tata Capital IPO will mark the Tata Group’s second public listing in recent years, following the launch of Tata Technologies in November 2023.
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