New Delhi: Tata Capital Ltd’s Rs15,512 crore initial public offering (IPO) was subscribed 39 per cent on the first day of bidding on Monday, receiving bids for 12.86 crore shares against 33.34 crore on offer, NSE data showed.
The portion for Qualified Institutional Buyers (QIBs) was subscribed 52 per cent, retail investors 35 per cent, and non-institutional investors 29
per cent.
Ahead of the issue, Tata Capital raised Rs 4,642 crore from 68 domestic and global institutional investors through its anchor book, which saw demand nearly five times the offered amount.
The IPO, priced between Rs 310 and Rs 326 per share, comprises a fresh issue of 21 crore equity shares and an offer for sale (OFS) of 26.58 crore shares.
Under the OFS, Tata Sons will sell 23 crore shares and the International Finance Corporation (IFC) 3.58 crore.
Proceeds will strengthen the company’s Tier-1 capital base and support future lending growth. The IPO, open till October 8, follows Tata Technologies’ 2023 listing, with Tata Capital’s market debut expected on October 13.