Tata Capital, the financial services arm of the Tata Group, filed its red herring prospectus with SEBI and stock exchanges on September 26, marking a significant step toward its highly anticipated IPO. The offering includes a fresh issue of up to 21 crore equity shares and an offer for sale (OFS) of up to 26.58 crore shares by existing shareholders. The IPO will open for public subscription from October 6 to October 8, 2025, with the anchor investor bidding set for October 3.
As per earlier reports, Tata Group aims for a post-money valuation of around $16.5 billion, with the total IPO size estimated at ₹16,400 crore ($1.85 billion). LIC is expected to invest significantly in the anchor portion. Tata Sons is the majority stakeholder, while investors like IFC and Tata Group companies including TMF Holdings, Tata Motors, and Tata Power hold the remaining stake.
As a Reserve Bank-mandated upper-layer NBFC, Tata Capital is required to list by September 30 but has reportedly received a short extension. Ten investment banks are advising on the IPO.