The IPO is scheduled to open on October 6, 2025, and will close on October 8, 2025, offering investors a limited window to participate in the public issue of Tata Capital Ltd. This IPO is a book-built issue aggregating approximately ₹15,511.87 crores, consisting of a fresh issue of 21.00 crore shares worth ₹6,846.00 crores and an offer for sale of 26.58 crore shares valued at ₹8,665.87 crores. The price band has been fixed between ₹310 and ₹326 per share, with a lot size of 46 shares, requiring a minimum investment of ₹14,996 at the upper price for retail investors. For institutional investors, the lot size investment varies: sNII investors need to apply for 14 lots (644 shares) amounting to ₹2,09,944, while bNII investors need 67 lots (3,082 shares) totaling ₹10,04,732.
The allotment of shares is expected on October 9, 2025, with refunds processed and credited to applicants’ accounts by October 10, 2025. The shares are set to list on BSE and NSE on October 13, 2025. The IPO has allocated 35% for retail investors, 50% for qualified institutional buyers (QIBs), and 15% for high net-worth individuals (HNIs). Tata Capital has shown strong financial performance, reporting revenue of ₹28,369.87 crores in 2025, up from ₹18,198.38 crores in 2024, and a profit of ₹3,655.02 crores, compared to ₹3,326.96 crores the previous year. Given its robust growth, IPO investors are advised to consider this offering for long-term investment potential.
The book running lead manager for the issue is Kotak Mahindra Capital Co. Ltd., while MUFG Intime India Pvt. Ltd. serves as the registrar. Investors should ensure their applications are submitted before the cut-off time of 5 PM on October 8, 2025 to secure consideration in this high-profile IPO.
Overview of Contents
About Tata Capital IPO
Tata Capital Limited (TCL), a trusted financial advisory company registered with the RBI, is a flagship subsidiary of Tata Sons Private Limited, managing assets of ₹1,58,479 crore in 2024, up from ₹119,950 crore in 2023. Tata Sons owns 92.83% of the company, having invested ₹6,097 crore over five years to strengthen its growth.
TCL is a diversified non-banking financial company (NBFC) offering a wide range of services to retail, corporate, and institutional customers, including consumer loans like personal, home, auto, education loans, and loans against property; commercial finance such as term loans, working capital loans, equipment financing, and lease rental discounting; wealth management, investment banking, private equity, and cleantech finance solutions.
As of March 31, 2025, it provides 25+ lending products catering to salaried and self-employed individuals, entrepreneurs, small businesses, SMEs, and corporates. By June 30, 2025, TCL had built a strong pan-India presence with 1,516 branches across 1,109 locations in 27 states and union territories.
Beyond lending, it also distributes third-party financial products like insurance, credit cards, and wealth management services, while managing private equity funds. Its competitive strengths include being the third-largest diversified NBFC in India, an extensive omni-channel distribution network combining branches, partnerships, and digital platforms, a prudent risk culture with strong credit underwriting, digital and analytics-driven operations, high credit ratings, consistent financial performance, and an experienced management team dedicated to delivering comprehensive financial solutions.
Tata Capital IPO Overview
| Parameter | Details |
|---|---|
| Face Value | ₹10 per share |
| Price Band | ₹310 – ₹326 per share |
| Lot Size | 46 shares |
| Issue Type | Book-built IPO |
| Sale Structure | Combination of Fresh Issue and Offer for Sale |
| Total Issue Size | 47,58,24,280 shares (up to ₹15,511.87 Cr) |
| Fresh Issue | 21,00,00,000 shares (up to ₹6,846 Cr) |
| Offer for Sale | 26,58,24,280 shares (up to ₹8,665.87 Cr) |
| Listing Exchanges | BSE & NSE |
| Shareholding Pre-IPO | 4,03,48,69,037 shares |
| Shareholding Post-IPO | 4,24,48,69,037 shares |
Tata Capital IPO Prospectus
| DRHP | Click here |
| RHP | Click here |
Tata Capital IPO Dates
| Event | Date & Day |
|---|---|
| IPO Opens for Subscription | Monday, October 6, 2025 |
| IPO Closes for Subscription | Wednesday, October 8, 2025 |
| Last Day for IPO Bidding (Cut-off) | Wednesday, October 8, 2025 – 5 PM |
| Basis of Allotment Announced | Thursday, October 9, 2025 |
| Refunds Processed | Friday, October 10, 2025 |
| Credit to Investors’ Demat Accounts | Friday, October 10, 2025 |
| Listing on Stock Exchanges | Monday, October 13, 2025 |
Tata Capital IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 46 | ₹14,996 |
| Retail (Max) | 13 | 598 | ₹1,94,948 |
| S-HNI (Min) | 14 | 644 | ₹2,09,944 |
| S-HNI (Max) | 66 | 3,036 | ₹9,89,736 |
| B-HNI (Min) | 67 | 3,082 | ₹10,04,732 |
Tata Capital IPO Promoter Holding
| Promoter Holding | Percentage |
|---|---|
| Pre-IPO | 95.6% |
| Post-IPO | 85.5% |
Tata Capital IPO Share Allocation and Investor Reservation Details
| Investor Segment | Allocated Shares | Approx. Allottees / Notes |
|---|---|---|
| Retail Investors (RII) | 16,61,18,498 shares (34.91%) | Approx. 36,11,271 allottees |
| Qualified Institutional Buyers (QIB) | 23,73,12,140 shares (49.87%) | – |
| Non-Institutional Investors (NII / HNI) | 7,11,93,642 shares (14.96%) | – |
| Anchor Investors | 14,23,87,284 shares (29.92%) | – |
| Employees | 12,00,000 shares (0.25%) | – |
| Total | 47,58,24,280 shares (100%) | – |
Tata Capital IPO Financial Performance
| Financial Metric | June 30, 2025 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|
| Total Assets (₹ Cr) | 2,52,254.28 | 2,48,465.01 | 1,76,693.98 | 1,35,626.10 |
| Total Borrowings (₹ Cr) | 2,11,851.60 | 2,08,414.93 | 1,48,185.29 | 1,13,335.91 |
| Total Income / Revenue (₹ Cr) | 7,691.65 | 28,369.87 | 18,198.38 | 13,637.49 |
| EBITDA (₹ Cr) | 5,565.86 | 20,338.22 | 14,247.76 | 10,763.22 |
| Profit After Tax (PAT) (₹ Cr) | 1,040.93 | 3,655.02 | 3,326.96 | 2,945.77 |
| Net Worth (₹ Cr) | 32,761.73 | 32,587.82 | 23,540.19 | 17,959.06 |
| Reserves & Surplus (₹ Cr) | 29,260.88 | 24,299.36 | 18,121.83 | 11,899.32 |
Object of the Issue
Augmentation of our Company’s Tier –Icapital base to meet our Company’s future capital requirements including onward lending.
Tata Capital IPO – Peer Group Financial Comparison
| Company | EPS (₹) | P/E Ratio | RoNW (%) | NAV (₹) | Revenue / Total Income (₹ Cr) |
|---|---|---|---|---|---|
| Bajaj Finance Limited | 26.89 | 32.6 | 17.35% | 155.6 | 69,683.51 |
| Shriram Finance Limited | 50.82 | 12.1 | 16.83% | 300.3 | 41,834.42 |
| Cholamandalam Investment & Finance Co. Ltd. | 50.72 | 28.1 | 18.01% | 281.5 | 25,845.98 |
| L&T Finance Limited | 10.61 | 19.0 | 10.34% | 102.5 | 15,924.24 |
| Sundaram Finance Limited | 170.53 | 26.8 | 13.74% | 1,187.8 | 8,485.63 |
| HDB Financial Services Limited | 27.40 | 27.4 | 14.57% | 198.8 | 16,300.28 |
Tata Capital IPO Key Financial Ratios – FY2025
| Key Performance Indicator (KPI) | Value |
|---|---|
| Return on Equity (ROE) | 12.6% |
| Return on Net Worth (RoNW) | 11.2% |
| Earnings Per Share (EPS) – Basic | ₹9.3 |
| Price/Earnings (P/E) Ratio | N/A |
| Net Asset Value (NAV) | ₹79.5 |
| Debt to Equity Ratio | NA |
| EBITDA Margin | – |
| PAT Margin | – |
Tata Capital IPO – Lead Managers & Merchant Bankers
The Tata Capital IPO is managed by a team of reputed financial institutions acting as lead managers:
- Kotak Mahindra Capital Co. Ltd.
- Axial Capital Pvt. Ltd.
- BNP Paribas
- Citigroup Global Markets India Pvt. Ltd.
- HDFC Bank Ltd.
- HSBC Securities & Capital Markets (India) Pvt. Ltd.
- ICICI Securities Ltd.
- IIFL Capital Services Ltd.
- JP Morgan India Pvt. Ltd.
- SBI Capital Markets Ltd.
Company Information
Tata Capital Ltd.
11th Floor, Tower A, Peninsula Business Park,
Ganpatrao Kadam Marg, Lower Parel,
Mumbai, Maharashtra – 400013
Phone: +91 022 6606 900
Email: investors@tatacapital.com
Website: www.tatacapital.com
IPO Registrar Details
MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: tatacapital.ipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
Tata Capital IPO FAQs
When does the Tata Capital IPO open and close?
The IPO opens on October 6, 2025, and closes on October 8, 2025.
What is the price band for the IPO?
The price band is set between ₹310 to ₹326 per share.
How many shares are being offered in the IPO?
A total of 47.58 crore shares are being offered, including 21 crore fresh issue shares and 26.58 crore shares through offer for sale.
What is the lot size for applying?
Each lot contains 46 shares. Retail investors can apply for 1 to 13 lots.
How is the IPO reserved among investors?
Allocation is as follows: QIB (Qualified Institutional Buyers) – 49.87%, NII (Non-Institutional / HNI) – 14.96%, Retail Investors – 34.91%, Anchor Investors – 29.92%, Employees – 0.25%.
When will the allotment and refunds happen?
The allotment is expected on October 9, 2025. Refunds and credit to demat accounts will be processed by October 10, 2025.
When will Tata Capital IPO list on stock exchanges?
The shares are expected to list on BSE and NSE on October 13, 2025.
Who are the lead managers for this IPO?
The IPO is managed by Kotak Mahindra Capital, HDFC Bank, ICICI Securities, SBI Capital Markets, JP Morgan, BNP Paribas, HSBC, Axial Capital, Citigroup, and IIFL Capital Services.
Who is the registrar for the IPO?
The IPO registrar is MUFG Intime India Pvt. Ltd.
Is Tata Capital IPO suitable for long-term investment?
Yes, based on its strong financial performance, diversified lending products, and backing from Tata Sons, the IPO is considered suitable for long-term investors.