Tata Capital IPO: After the bumper listing of Tata Technologies, Tata Group has now started work on the IPO of its financial services company Tata Capital. Moneycontrol has come to know this information from 3 people. Tata Capital is a Non-Banking Financial Company (NBFC). The public issue of Tata Technologies came in November 2024 and was subscribed 69.43 times. The shares were listed on November 30 at a premium of 140 percent. After 19 years, Tata Group brought IPO of one of its companies.
Regarding Tata Capital’s IPO, one of the sources said, “Work on the proposed IPO has started. This is to comply with RBI norms for upper layer NBFCs. No final decision has been taken on its size, But it is expected to be more than Rs 15,000 crore.”
Who has just been chosen as advisor?
“Law firm Cyril Amarchand Mangaldas and investment bank Kotak Mahindra Capital have just been selected as advisors,” said a second source. According to the third person, “Talks will be held soon to include other investment banks. The IPO will include an offer for sale along with new shares.”
As per RBI rules, an upper layer NBFC will have to be listed on the stock exchange within 3 years of being notified. RBI had released the list of 16 companies classified as ‘Upper Layer NBFCs’ in September 2022. Tata Capital’s name was also there in this. This means that Tata Capital will have to be listed on the stock exchanges by September 2025.
DAM Capital Advisors IPO: ₹840 crore issue closed after being subscribed 82 times, how can the listing be on December 27?
Tata Capital’s AUM
Tata Capital Ltd’s AUM stood at Rs 158,479 crore as of March 31, 2024, according to a September report by Crisil Ratings. It was Rs 119,950 crore by March 31, 2023, and Rs 94,349 crore by March 31, 2022. As of March 31, 2024, Tata Sons directly held 92.83 percent equity shares in Tata Capital Limited. The majority of the remaining stake was held by other Tata group companies and trusts.
According to Crisil Ratings report, Tata Sons has infused Rs 6,097 crore of capital into Tata Capital Limited in the last 5 financial years. Of this, Rs 2,500 crore was infused in FY 2018-19, Rs 1,000 crore in FY 2019-20, Rs 594 crore in FY 2022-23 and Rs 2,003 crore during FY 2023-24.
BSE investigates Solar91 Cleantech IPO, public issue of ₹106 crore postponed
