IPO
Tata Capital’s Rs.15,500-Cr IPO subscribed nearly 2x
Tata Capital 's INR15,500-crore IPO closed with 1.95 times subscription, driven by strong final-day demand from qualified institutional buyers (QIBs). Investors had bid for more than 65 crore shares against the 33.34 crore shares on offer.The QIB category was subscribed 3.42 times, led by strong demand from mutual funds and foreign institutional investors. The non-institutional investors (NII) portion stood at 1.98 times, while the retail investor segment reached 1.1 times.The IPO had earlier raised INR 4,642 crore from 135 anchor investors, including Life Insurance Corporation of India (LIC), Morgan Stanley, Goldman Sachs, Amansa Holdings, and several domestic mutual funds.Tata Capital offered 47.58 crore equity shares, comprising a fresh issue of 21 crore shares and an offer-for-sale of 26.58 crore shares by promoter Tata Sons and investor International Finance Corporation (IFC). The price band was fixed at INR 310-326 per share, valuing the company at about INR 1.38 lakh crore at the upper end.
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