Tata Capital IPO: The biggest IPO by Tata Group is all set to be launched before Diwali. Tata Capital, the financial services provider of late Ratan Tata, is launching its initial public offering (IPO) worth Rs 15,512 crore on October 6, 2025. This makes Tata Capital the largest IPO by an NBFC. On September 29, the details of the IPO were announced.
Tata Capital IPO Size:
The public offer will be a mixture of fresh issue of 210,000,000 Equity Shares, and offer for sale of 265,824,280 Equity Shares.
In total, the IPO size is of 475,824,280 Equity Shares. At the upper price band, the IPO is worth nearly Rs 15,512 crore.
Tata Capital's Mega IPO!
With the issue size of Rs 15,512 crore, Tata Capital's IPO is fourth-largest in Indian market history. Tata Capital is not just the largest NBFC IPO, but also highest public offer to be launched by Tata Group. Prior to this, the last IPO launched by Tata was in November 2023, Tata Technologies which was worth Rs 3,042.51 crore in size. Tata Technologies was the latest IPO by Tata Group since 2004 when Tata Consultancy Services (TCS) IPO was launched. TCS which is now the flagship company of Tata Group, had an IPO size of Rs 4,713.47 crore.
Additionally, Tata Capital is expected to value around Rs 1.38 trillion, which will make it either fifth or sixth most-valued NBFC on BSE and NSE after listing. Currently, Bajaj Finance is the largest NBFC with Rs 6.17 trillion market value, followed by its parent Bajaj Finserv who holds Rs 3.23 trillion m-cap. While Jio Financial Services is at third rank with Rs 1.87 trillion m-cap, IRFC at fourth with Rs 1.62 trillion, and Bajaj Holding with Rs 1.39 trillion m-cap as of September 29, 2025.
Tata Capital IPO Selling Shareholders:
Under the offer for sale, the parent Tata Sons will offload at least 230,000,000 Equity Shares in Tata Capital IPO, followed by International Finance Corporation who will sell up to 35,824,280 Equity Shares.
Tata Capital IPO Price Band:
The price band is fixed at the lower end at Rs 310 and upper end at Rs 326 per share. Meanwhile, bids can be made for a minimum of 46 Equity Shares and in multiples of 46 Equity Shares thereafter.
Tata Capital IPO Dates:
Bidding for anchor investors will be open on Friday, October 3, 2025. While the IPO will be open fully for all category investors on October 6th, and close on October 8th.
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 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 GMP:
As per Investor Grain, the last GMP of the Tata Capital IPO is Rs 27, last updated Sep 29th 2025 08:59 PM. With the price band of 326.00, Tata Capital IPO's estimated listing price is Rs 353 (cap price + September 29 GMP).The expected percentage gain/loss per share is 8.28%.
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 Limited:
Tata Capital Limited ("TCL"), the flagship financial services company of the Tata Group, is a subsidiary of Tata Sons Private Limited and is carrying on business as a non-banking financial company. Tata Capital and its subsidiaries are engaged in providing/supplying a wide array of services/products in the financial services sector and operates across various areas of business: Commercial Finance, Consumer Loans, Wealth Services and distribution and marketing of Tata Cards.
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