There is a decline in the stock market these days. In such a situation, there is a stir in the coming days in the IPO market. Because Tata Group’s non-banking finance company Tata Capital is going to bring its IPO soon. For this, the company has filed documents (DRHP) with SEBI. Let us tell you about all the details related to IPO.
The company will offer 47.58 crore shares in Tata Capital IPO, in which 21 crore new shares will be issued and 26.58 crore shares will be sold through offer for sale. 23 crore shares of Tata Sons and 3.58 crore shares of International Finance Corporation will be sold in OSS. The company first submitted IPO documents in April in April, and was also approved by SEBI in July. Now the company has deposited the updated DRHP. According to sources, the size of this IPO can be US $ 2 billion at around Rs 16,800 crore, and the company’s valuation can reach US $ 112,400 crore.
Where will the money use
The company will use the money received through the IPO to strengthen its Tier-1 capital. This will increase the ability to give loans to the company and it will work on increasing its business in the NBFC sector. That is, this investment will strengthen the company’s growth and the power of lending.
The IPO of Tata Capital is being managed to many large investment banks, including names like Kotak Mahindra Capital, Axis Capital, CITI, BNP Paribas, HDFC Bank, HSBC, ICICI Securities, IIFL, Sbi Capital and JP Morgan.
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