Tata Capital’s IPO, one of the most talked-about public offerings of 2025, opened on October 6 and closed on October 8. This is a ₹15,511.87 crore book-built issue, comprising 21 crore new shares and 26.58 crore offer-for-sale shares. The net proceeds from the IPO will primarily be used to strengthen Tata Capital’s Tier-I capital base, supporting the company’s future capital requirements and potential lending opportunities.
Before the IPO opened, Tata Capital raised ₹4,642 crore from anchor investors, including several prominent domestic and international institutions. The Life Insurance Corporation of India (LIC) emerged as the largest anchor investor, investing approximately ₹700 crore to acquire 2.15 crore shares.
On the first day of bidding, the IPO was subscribed 0.39 times, rising to 0.75 times on the second day. On the final day, strong participation from Non-Institutional Investors (NIIs) and Qualified Institutional Buyers (QIBs) accelerated subscription, resulting in an overall subscription of 1.96 times.
Category-wise subscription details:
Retail investors: 1.10 times
NIIs: 1.98 times
QIBs: 3.42 times
The IPO allocation was structured as:
50% for QIBs
35% for retail investors
15% for NIIs
The final share allotment for Tata Capital IPO will be completed by October 9. Shares are expected to list on BSE and NSE on October 13, 2025.
Investors who applied for the IPO can check their allotment status through the registrar’s website, MUFG Intech India Private Limited, using the following steps:
Steps to check share allotment:
Visit MUFG Intech IPO portal
Select the company name from the dropdown menu
Enter PAN number, application number, client ID, account number, or IFSC code and click submit
According to market sources, the grey market premium (GMP) of Tata Capital IPO is ₹3.5, which is 1% above the cap price. Based on the current GMP, the estimated listing price of Tata Capital shares could be around ₹329.5 per share.
Tata Capital Limited (TCL) is a subsidiary of Tata Sons Private Limited and operates as a non-banking financial company (NBFC) in India. It offers a wide range of financial products and services to retail, corporate, and institutional clients.
The company has a pan-India distribution network comprising 1,516 branches and 1,109 locations across 27 states and union territories.
For the financial year ending March 31, 2025, Tata Capital reported:
Revenue: ₹28,369.87 crore, up 56%
Profit After Tax (PAT): ₹3,655.02 crore, up 10%
Aditya Birla Money termed the IPO valuation as reasonable and advised investors to subscribe for the long term. Anand Rathi Research also considered the pricing fair and recommended a long-term subscription. Canara Bank Securities noted that the IPO is valued at 4x FY25 P/B, in line with the sector, with a strong AAA rating and robust funding profile.
Given Tata Group’s strong brand, diversified loan portfolio, and stable financials, most analysts consider this IPO suitable for long-term investment.