Tata Capital Shares Debut Flat, Climb Over 1%

New Delhi, Oct 13 (PTI) Shares of non-banking financial company Tata Capital Ltd on Monday listed over 1 per cent higher against the issue price of Rs 326.

The stock started trading at Rs 330, up 1.22 per cent from the issue price on both the BSE and NSE.

Later, it climbed 1.84 per cent to Rs 332 on the BSE.

The company's market valuation stood at Rs 1,38,658.65 crore during the morning trade.

The initial public offering of Tata Capital Ltd was fully subscribed on the final day of bidding last Wednesday.

The company's Rs 15,512 crore share sale received 1.95 times subscription.

Tata Capital's IPO is the largest issue of this year.

The price range for the offer was Rs 310-326 per share.

The Initial Public Offering (IPO), had a total of 47.58 crore shares, including a fresh issue of 21 crore equity shares and an Offer For Sale (OFS) of 26.58 crore shares.

Proceeds from the IPO will be used to strengthen the company's Tier-1 capital base, supporting future capital requirements, including onward lending.

This marked Tata Group's second public listing in recent years, following the debut of Tata Technologies in November 2023.

The IPO was undertaken in line with the Reserve Bank of India's (RBI) listing mandate for upper-layer NBFCs, which requires them to be listed within three years of classification.

Tata Capital was designated as an upper-layer NBFC in September 2022.

With a portfolio of more than 25 lending products, the company caters to a diverse customer base, including salaried and self-employed individuals, entrepreneurs, small businesses, SMEs, and corporates.

In addition to lending, Tata Capital distributes third-party products such as insurance and credit cards, offers wealth management services, and acts as a sponsor and investment manager to private equity funds.