Tata Capital IPO Opens: Key Details Inside

The much-anticipated Tata Capital IPO is set to open for subscription on October 6, 2023, and will continue until October 8, 2023. This initial public offering aims to raise significant funds by offering shares at a price band of Rs 310 to Rs 326 each. The strong interest from both domestic and international institutional investors is evident, as the IPO has already secured Rs 4,642 crore in commitments, with demand nearly five times the amount available for allocation.

Investors looking to participate in this IPO should be aware that the face value of each share is Rs 10, with a minimum tick size of Re 1. The allotment of shares is expected to be finalized on October 9, 2023, providing investors with clarity on their potential holdings.

Once the shares are allotted, they will be listed on major stock exchanges, including the NSE and BSE, with a listing date projected for October 13, 2023. This IPO signifies a notable event for the Tata Group, marking its second public listing in recent years, following the successful debut of Tata Technologies in November 2023.

The Tata Group's financial services arm, Tata Capital, had previously filed draft papers in April through a confidential pre-filing route and received approval from the Securities and Exchange Board of India (Sebi) in July. The involvement of prominent banks as book running lead managers, including Kotak Mahindra, Axis Capital, and HDFC Bank, reinforces the IPO's credibility and appeal.

For Indian investors, this IPO presents a promising investment opportunity, especially considering Tata Capital's reputation and the backing of the Tata Group. As the financial landscape in India continues to evolve, this IPO could be a significant milestone for both the company and investors alike.