Tata Capital Limited is a diversified NBFC and a subsidiary of Tata Sons Private Limited, offering retail, commercial and corporate finance, wealth management, investment banking, private equity and cleantech financing solutions to a wide customer base. As of March 31, 2025, the company offers a comprehensive suite of 25+ lending products catering to salaried, self‑employed, SMEs and corporates, and as of June 30, 2025, operates 1,516 branches across 1,109 locations in 27 states/UTs.
Tata Capital IPO
Mainboard book‑built issue (Fresh + Offer for Sale)
UPCOMING IPOTata Capital is launching a ₹15,511.87 crore mainboard IPO comprising a fresh issue of 21.00 crore shares aggregating ₹6,846.00 crore and an offer for sale of 26.58 crore shares aggregating ₹8,665.87 crore, opening on October 6, 2025 and closing on October 8, 2025, with allotment expected on October 9 and listing proposed on BSE and NSE on October 13, 2025. The price band is ₹310 to ₹326 per share; the minimum retail application is 1 lot of 46 shares for ₹14,996 at the cap price.
| Face Value | ₹10 per share |
|---|---|
| Issue Price Band | ₹310 to ₹326 per share |
| Offer Structure | Fresh Issue + Offer for Sale |
| Total Shares | 47,58,24,280 shares (aggregating up to ₹15,511.87 crore) |
| Fresh Issue | 21,00,00,000 shares (aggregating up to ₹6,846.00 crore) |
| Offer for Sale | 26,58,24,280 shares (aggregating up to ₹8,665.87 crore) |
| Issue Type | Book‑building IPO |
| Listing | BSE, NSE |
| Shareholding (Pre / Post) | 4,03,48,69,037 / 4,24,48,69,037 shares |
| Lead Manager | Kotak Mahindra Capital Co. Ltd. |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Investor Category | Reservation |
|---|---|
| QIB (incl. Anchor) | 49.87% of issue; Anchor 29.92% |
| NII (HNI) | 14.96% of issue |
| Retail (RII) | 34.91% of issue |
| Employee | 0.25% of issue |
Cut‑off bidding permitted for RII and eligible employees; not permitted for NII categories.
| Bid Date | Shares Offered | Anchor Amount (₹ Cr) | Lock‑in (50% / 90%) |
|---|---|---|---|
| Oct 3, 2025 | 14,23,87,284 | 4,641.83 | Nov 8, 2025 / Jan 7, 2026 |
| IPO Open | Mon, Oct 6, 2025 |
|---|---|
| IPO Close | Wed, Oct 8, 2025 |
| Allotment (Tentative) | Thu, Oct 9, 2025 |
| Refunds Initiation | Fri, Oct 10, 2025 |
| Credit to Demat | Fri, Oct 10, 2025 |
| Listing (Tentative) | Mon, Oct 13, 2025 |
| UPI Mandate Cut‑off | 5 PM on Wed, Oct 8, 2025 |
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 46 | ₹14,996 |
| Retail (Max) | 13 | 598 | ₹1,94,948 |
| S‑HNI (Min) | 14 | 644 | ₹2,09,944 |
| S‑HNI (Max) | 66 | 3,036 | ₹9,89,736 |
| B‑HNI (Min) | 67 | 3,082 | ₹10,04,732 |
Amounts computed at cap price ₹326 per share for disclosed lot multiples.
Tata Capital Limited is a diversified NBFC and a subsidiary of Tata Sons Private Limited, offering retail, commercial and corporate finance, wealth management, investment banking, private equity and cleantech financing solutions to a wide customer base. As of March 31, 2025, the company offers a comprehensive suite of 25+ lending products catering to salaried, self‑employed, SMEs and corporates, and as of June 30, 2025, operates 1,516 branches across 1,109 locations in 27 states/UTs.
The company also distributes third‑party products including insurance and credit cards, and serves HNIs and retail clients in non‑lending segments, supported by an omni‑channel distribution and digital platforms. Competitive strengths include group backing, breadth of products, risk management, and high credit ratings.
FY2023–FY2025 and Q1 FY2026 (₹ crore)
| Assets | Total Income | PAT | EBITDA | Net Worth | Reserves | Total Borrowings |
|---|---|---|---|---|---|---|
| 2,48,465.01 (FY25) | 28,369.87 | 3,655.02 | 20,338.22 | 32,587.82 | 24,299.36 | 2,08,414.93 |
| 1,76,693.98 (FY24) | 18,198.38 | 3,326.96 | 14,247.76 | 23,540.19 | 18,121.83 | 1,48,185.29 |
| 1,35,626.10 (FY23) | 13,637.49 | 2,945.77 | 10,763.22 | 17,959.06 | 11,899.32 | 1,13,335.91 |
| 2,52,254.28 (Q1 FY26) | 7,691.65 | 1,040.93 | 5,565.86 | 32,761.73 | 29,260.88 | 2,11,851.60 |
Source notes maintained internally; no reference placeholders are rendered on the page.
| Promoter | Tata Sons Private Limited |
|---|---|
| Promoter Holding (Pre) | 95.6% |
| Promoter Holding (Post) | 85.5% |
Since part of the offer is Fresh, post‑issue share count increases; OFS represents transfer by selling shareholders.
This IPO looks significant not just for its size but also because Tata Capital’s diversified portfolio across retail, SME, and corporate lending gives it a solid growth base. The mix of fresh issue and OFS is interesting—while the fresh funds will support expansion, the large OFS portion suggests some existing investors are booking profits. It’ll be worth watching how investor demand shapes up given the relatively tight price band.