Upcoming IPO: Tata Capital Files DRHP for IPO With Market Regulator SEBI

On August 4, 2025, Tata Capital Ltd, the financial services subsidiary of the Tata Group, has taken a significant business development to go public. The company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).

Tata Capital IPO Details

As per the draft documents, the Tata Capital IPO will consist of a total issue of 47.58 crore equity shares, each with a face value of ₹10. The upcoming IPO comprises the following:

• Fresh issue of 21 crore shares, aimed at infusing new capital into the company.
• Offer for Sale (OFS) of approximately 26.58 crore shares, allowing existing stakeholders to divest part of their holdings.

Among the major sellers:

• Tata Sons Pvt Ltd, the holding company of the Tata Group, plans to offload up to 23 crore shares.
• International Finance Corporation (IFC) intends to sell around 3.58 crore shares.

Tata Capital IPO Managers and Registrar

A consortium of top-tier investment banks and financial institutions will lead the IPO process, including:

• Kotak Mahindra Capital Co. Ltd
• Axis Capital Ltd
• BNP Paribas
• Citigroup Global Markets India Pvt. Ltd
• HDFC Bank Ltd

MUFG Intime India Pvt. Ltd (formerly Link Intime) has been appointed as the registrar for the issue.

Also Read: Upcoming IPOs This Week: 3 Mainboard, Including JSW Cement and 2 SME IPO are Set to Open for Bidding

Use of IPO Proceeds

Tata Capital proposes to use the fresh capital to strengthen its Tier-I capital base—a move aimed at supporting its future lending operations and sustaining long-term growth in the competitive NBFC space.

According to the DRHP, the funds will be used for:

“Augmentation of our Company’s Tier–I capital base to meet our Company’s future capital requirements, including onward lending.”

Tata Capital Financial Performance Snapshot

Tata Capital has delivered consistent financial growth over recent years. In the financial year ending March 31, 2025, the company reported a net profit of ₹3,664.66 crore, a notable increase from ₹3,150.21 crore in FY 2023–24 and ₹3,029.20 crore in FY 2022–23.

Additionally, the firm’s revenue from core operations rose to ₹28,312.74 crore in FY25, highlighting strong operational performance. As of March 2025, Tata Capital’s net worth stood at a robust ₹32,587.82 crore, underscoring its financial stability ahead of the IPO.

The Tata Capital IPO is expected to be one of the most closely watched listings in the financial sector, reinforcing the Tata Group's strategic push to unlock value in its growing NBFC operations.

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