Tata Capital IPO Opens: Know Price Bands, GMP, Allotment, Listing Details; Should You Subscribe This Tata IPO?
Tata Capital IPO Opens:India’s fourth largest IPO is going to be launched on October 6th. This is none other than Tata Group’s largest NBFC, Tata Capital, which is launching an initial public offering (IPO) worth Rs 15,511.87 crore.
The bidding will begin at 10 am on Monday. This will be Tata’s biggest IPO. The last day for bidding in the IPO is on October 8th.
Tata Capital IPO:
The IPO size of Rs 15,511.87 crore is a mixture of fresh issue worth Rs 6,846 crore and offer for sale (OFS) worth Rs 8,666 crore. The fresh issue is up to 26,58,24,280 equity shares and offer for sale up to 14,23,87,284 equity shares.
Under the OFS, the parent, Tata Sons, will offload at least 230,000,000 Equity Shares in Tata Capital IPO, followed by the International Finance Corporation, which will sell up to 35,824,280 Equity Shares.
50% of the IPO size is reserved for Qualified Institutional Buyers, while 15% of the total will be kept for Non-Institutional Investors, and the rest 35% will be allocated to Retail Individual Investors.
The IPO is 100% book building.
The book running lead managers of the IPO are Kotak Mahindra Capital Company Limited, Axis Capital Limited, BNP Paribas, Citigroup Global Markets India Private Limited, HDFC Bank Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), J.P. Morgan India Private Limited, and SBI Capital Markets Limited.
Tata Capital IPO Opens:Tata Capital IPO Price Band:
The price band is fixed at Rs 310 per share at the lower end and at Rs 326 per share at the upper end. The face value of equities is Rs 10 per share each. The bid lot size is 46 Equity Shares and in multiples thereof.
Tata Capital IPO GMP:
Tata Capital IPO last GMP is Rs 7.5, last updated Oct 6th 2025 07:33 AM. With the price band of 326.00, Tata Capital IPO’s estimated listing price is at Rs 333.5 (cap price + October 6th GMP).The expected percentage gain/loss per share is 2.30%, as per Investor Grain.
The IPO’s retail subject to Sauda is Rs 300 and Small HNI subject to Sauda is Rs 4,200.
Should You Subscribe Tata Capital IPO?
As per analysts at Anand Rathi, at the upper price band, Tata Capital is valuing at P/E of 32.3x, P/B of 3.5x to its FY25 earnings and market cap of Rs 13,83,827 million post issue of equity shares. They added, “We believe that the IPO is fully priced and recommend a “Subscribe Long Term” rating to the IPO.”
Also, recommending to pick Tata Capital shares for long term, analysts at Aditya Birla Money in their IPO note said, “Trust is a key factor in financial services and TCL benefits from the strong Tata brand. TCI is one of the most diversified NBFCs with a strong geographical presence. It enjoys strong domestic rating (AAA) and the best possible international rating (BBB, capped by sovereign rating), ensuring the lowest cost of funds in the industry. Liabilities are well diversified across banks, NCDs, CPs, financial institutions (NHB, SIDBI), and overseas sources (ECBs, bonds). At the upper price-band, the issue is valued at 4.5x P/B (pre issue) and post issue it is at 4.1x on FY25 BVPS. We recommend “SUBSCRIBE for Long Term” to the issue.”
Decoding further, analysts at Sharekhan said, “Tata Capital has a resilient business model focused on sustained growth, supported by a diversified asset mix. Its AUM reached Rs. 2,33,363 crore in FY25, reflecting significant scalability with a 37.3% CAGR (FY23- 25, including TMFL merger). Strong risk management, including stable underwriting and an ~80% secured book, maintains steady asset quality. A robust branch network further enables future growth. The company is currently valued at about 3.5x P/B post-issue.”
It needs to be noted that Tata Capital is looking to reduce its credit costs below 1% by strengthening risk management and credit underwriting, supported by digital tools and analytics. In Anand Rathi’s opinion, by maintaining a diversified loan portfolio across products, customers, and geographies, and increasing the share of secured lending, the company minimizes concentration risks.
Tata Capital IPO Allotment Date:
The tentative date for allotment status is likely on October 9, a day after the subscription closes on BSE and NSE.
Tata Capital IPO Credit Of Shares:
Once the allotment is announced, the company will credit shares to eligible shareholders most likely by October 10, 2025. On the same day, the company will also initiate refund to those investors who did not meet the criteria.
Tata Capital IPO Listing Date:
Tentatively, the listing date is likely on October 8, 2025.
About Tata Capital Ltd:
Tata Capital Limited, the flagship financial services arm of the Tata Group with a legacy spanning over 150 years, is the third-largest diversified NBFC in India. It offers one of the widest lending product portfolios and operates through an omni-channel distribution network that includes a pan-India branch presence, strategic partnerships, and robust digital platforms. At the same time, its deep integration of digital capabilities and analytics lies at the heart of its operations, ensuring superior customer experience and driving sustainable business performance.
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