Modest Dalal Street Debut
Tata Capital, the Tata Group's non-banking financial company (NBFC), made its stock market debut on Monday. The company's shares opened modestly at a 1% premium to the issue price. The IPO was priced between ₹310 and ₹326 per share, and the trade opened at ₹330 on both the BSE and NSE.
IPO Structure and Utilization of Funds
Under the public issue, 50% of shares will go to qualified institutional buyers (QIBs), 35% to retail buyers, and 15% to non-institutional buyers. The money mobilized under the IPO will support the Tier-1 capital pool of the company and address financing needs in the future.
This is a follow-up to the Reserve Bank of India order that requires top-layer NBFCs to list in the market within three years. Tata Capital had filed its draft prospectus with SEBI under the pre-filing option in April 2025 and received approval in July.
Largest IPO Since Tata Technologies
The Tata Capital IPO was the largest after Tata Technologies floated in 2023. The financial year ended 2024–25 witnessed the company achieving a net profit of ₹3,655 crore, an improvement from ₹3,327 crore in the previous period. The revenue went up from ₹18,175 crore to ₹28,313 crore during the same period.
Business Overview
Tata Capital was established in 2007 and deals in financial services for a large number of customers. It had dealt with over 70 lakh clients as of March 31, 2025. Tata Capital advances loans to salaried professionals, self-employed individuals, micro, small, and medium-sized businesses (MSMEs), and corporate customers.
Besides lending, Tata Capital is an insurance company, credit card company, wealth manager, and investment manager of private equity funds.
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