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IPO-bound Tata Capital has issued shares worth ₹4,642 crore to 68 eligible domestic and foreign anchor investors ahead of the largest IPO of 2025.
The board approved the issue of 14.23 crore equity shares to these eligible institutions, with 35.5% of that being allocated to 18 domestic mutual funds, who applied through a total of 59 schemes.
Shares were issued at the upper end of the price band of ₹310 to ₹326 per share.
India's largest insurance company, Life Insurance Corporation of India, has been issued the lion's share of the total anchor book, with over 15%. LIC has invested a sum of ₹700 crore as part of Tata Capital's anchor book.
Amansa Holdings and Nomura Investment have invested a sum of ₹175 crore each, while Morgan Stanley, through multiple schemes, has invested over ₹300 crore as part of the Anchor Book.
Tata Capital will be India's largest IPO of 2025, with the ₹15,500 crore issue opening for subscription on Monday, October 6. This will be the first Tata Group IPO in nearly two years after Tata Technologies went public in November 2023.
The IPO will be a mix of a fresh issue of equity shares and an Offer for Sale (OFS) where promoter Tata Sons, and International Finance Corporation will be selling shares.
Tata Capital is classified as an upper layer NBFC by the Reserve Bank of India. This classification was effective from September 2022, which meant that it had to go public within a three-year period due to its large asset base.
The board approved the issue of 14.23 crore equity shares to these eligible institutions, with 35.5% of that being allocated to 18 domestic mutual funds, who applied through a total of 59 schemes.
Shares were issued at the upper end of the price band of ₹310 to ₹326 per share.
India's largest insurance company, Life Insurance Corporation of India, has been issued the lion's share of the total anchor book, with over 15%. LIC has invested a sum of ₹700 crore as part of Tata Capital's anchor book.
Amansa Holdings and Nomura Investment have invested a sum of ₹175 crore each, while Morgan Stanley, through multiple schemes, has invested over ₹300 crore as part of the Anchor Book.
Tata Capital will be India's largest IPO of 2025, with the ₹15,500 crore issue opening for subscription on Monday, October 6. This will be the first Tata Group IPO in nearly two years after Tata Technologies went public in November 2023.
The IPO will be a mix of a fresh issue of equity shares and an Offer for Sale (OFS) where promoter Tata Sons, and International Finance Corporation will be selling shares.
Tata Capital is classified as an upper layer NBFC by the Reserve Bank of India. This classification was effective from September 2022, which meant that it had to go public within a three-year period due to its large asset base.
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