Tata Capital, a top financial services provider, plans an IPO. The board approved issuing 230 million new shares. Existing shareholders can sell their stakes through the offer for sale (OFS) method. This move helps Tata Capital raise funds and expand operations.
The IPO includes a fresh issue of shares worth up to ₹1,504 crore. Existing shareholders can buy these shares on a rights basis. The company aims to list on the stock exchange by September, complying with RBI norms for upper-layer NBFCs.
Since December, Tata Capital has prepared for this IPO with advisors Cyril Amarchand Mangaldas and Kotak Mahindra Capital. This will be Tata Group’s second IPO in two decades, following Tata Technologies’ successful listing last year.
The IPO is expected to strengthen Tata Capital’s financial position and support growth in the competitive financial services market.
