It includes a fresh issue of 21 crore shares and an offer for sale of 26.58 crore shares by existing investors, including Tata Sons and IFC.
Tata Capital is set to launch one of the largest IPOs in India this year, aiming to raise nearly ₹15,512 crore through a combination of fresh share issue and an offer for sale by existing shareholders.
The price range for the IPO has been established between ₹310 and ₹326 per equity share, each having a face value of ₹10, marking a much-awaited public listing for this Tata Group financial services arm.
The IPO will be open for subscription from October 6 to October 8, 2025, with shares expected to list by mid-October on the NSE and BSE.
The IPO offering consists of a fresh issue of 21 crore shares and an offer for sale of nearly 26.58 crore shares. Tata Sons is looking to sell 23 crore shares, while the International Finance Corporation (IFC) is likely to sell about 3.58 crore shares.
News reports suggest that Tata Capital decided to reduce its post-money equity valuation by 5% ahead of the launch of the mega issue as a ‘good will’ gesture by the Tatas.
Key dates for Tata Capital IPO
Anchor investor bidding: October 3
IPO subscription: October 6 to 8
Share allotment: October 9
Expected listing: October 13
Using IPO Funds
The proceeds from the fresh issue will be primarily used to strengthen Tata Capital’s Tier 1 capital base, supporting future capital requirements, including onward lending.
Regulatory mandates require large NBFCs, such as Tata Capital, to be publicly listed by September 2025, making this IPO a strategic imperative for compliance with RBI norms. Three years ago, the RBI mandated that all unlisted large NBFCs go public by September 30, 2025. Consequently, Bajaj Housing Finance listed in August 2024, and HDB Financial followed in June 2025.
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