Tata Capital IPO: Tata Group’s NBFC Giant Launches ₹15,511 Crore Issue

Tata Capital Ltd, the financial services subsidiary of Tata Sons, is entering the public market with a blockbuster ₹15,511.87 crore IPO, opening on October 6, 2025, and closing on October 8, 2025. This marks one of the largest NBFC listings in India.

Established in 2007, Tata Capital operates as a diversified non-banking financial company (NBFC) offering consumer, business, housing, and vehicle loans, along with wealth and investment services. With a loan book exceeding ₹2.33 lakh crore, the company benefits from the credibility of the Tata Group, positioning itself as a strong contender in India’s fast-growing credit ecosystem.

The IPO includes a fresh issue of ₹6,846 crore and an offer-for-sale of ₹8,665.87 crore by Tata Sons. The price band is set between ₹310–₹326 per share, with a lot size of 46 shares, translating to a minimum retail investment of about ₹14,996. Shares are expected to list on the NSE and BSE on October 13, 2025.

Backed by robust anchor investor demand—raising ₹4,642 crore pre-IPO—the company’s valuation of 33–35x P/E and 4.1x price-to-book signals a premium over peers such as Bajaj Finance and HDB Financial. However, low NPAs (2.1%), strong growth momentum, and diversified exposure add confidence.

While macro risks like funding costs and RBI regulations remain, Tata Capital’s scale and brand legacy make this IPO a notable opportunity for long-term investors seeking exposure to India’s financial sector.

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