Tata Capital IPO Day 2 LIVE: Tata Capital’s ₹15,512 crore IPO entered the second day of bidding today, October 7, after garnering 39% bids yesterday – its first day of opening.
The public offer by the Tata group company is open for subscription until October 8. Tata Capital IPO price band is set at ₹310– ₹326 per share.
The issue includes a fresh issue of 21 crore equity shares and an OFS of 26.58 crore shares. Under the OFS, Tata Sons will sell 23 crore shares, and the International Finance Corporation (IFC) will offload 3.58 crore shares. Currently, Tata Sons owns 88.6% of Tata Capital, while IFC holds a 1.8% stake.
Proceeds from the fresh issue will be used to strengthen the company’s Tier-1 capital base, supporting future growth and lending activities.
The IPO is also in line with the Reserve Bank of India’s mandate requiring “upper-layer” NBFCs to be listed within three years of classification.
Tata Capital IPO GMP
After witnessing a downward trend, Tata Capital IPO GMP steadied at ₹12.5 today. At the prevailing GMP and upper end of the price band, Tata Capital IPO listing price could be ₹338.5, a premium of 4% over the issue price.
The company is expected to list on the stock exchanges on October 13.
