Tata Capital was incorporated on March 8, 1991. The company is a flagship financial services arm of the Tata group and the third-largest diversified non-banking financial company in India by total gross loans as of March 2025. It focuses on retail and small and medium enterprise lending, with strong asset quality, wide distribution, and a digital-first approach
| Bidding Dates |
|---|
| 06 Oct 2025 - 08 Oct 2025 |
| Subscription |
|---|
| 1.95x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,260 | 1 | 13 | 46 | 475.8 M | ₹310 - ₹326 | 85.41 % | ₹147505.5 M - ₹155118.7 M | RHP DOC |
Tata Capital IPO SUBSCRIPTION STATUS
08 Oct '25Tata Capital IPO overall subscription rate was 1.95 times the total available shares
Tata Capital IPO retail subscription rate was 1.1 times in the retail segment
Tata Capital IPO non-institutional investor subscription rate was 1.98 times in the non-institutional investor category
Tata Capital IPO Qualified Institutional Bidder subscription rate was 3.42 times the available shares for Qualified Institutional Bidder
Tata Capital IPO Employees subscription rate was 2.92 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 34.91% | 14.96% | 49.87% | 0.25% |
08 Oct 2025 (Day 3) | 1.1x | 1.98x | 3.42x | 2.92x |
07 Oct 2025 (Day 2) | 0.67x | 0.76x | 0.86x | 1.95x |
06 Oct 2025 (Day 1) | 0.35x | 0.29x | 0.52x | 1.1x |
Tata Capital FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) |
| Q1FY26 | 7,664.8 | 1,055.3 | -4,880.0 | -5,427.5 |
| Q1FY25 | 6,546.3 | 546.1 | -7,519.4 | -7,804.9 |
| FY25 | 28,312.7 | 3,508.1 | -29,872.5 | -30,893.9 |
| FY24 | 18,174.8 | 4,467.5 | -37,998.5 | -38,632.1 |
| FY23 | 13,628.9 | 4,745.8 | -23,189.6 | -23,337.1 |
Tata Capital IPO SUBSCRIPTION STATUS DETAILS
Tata Capital had 475.8 M shares on offer
Tata Capital IPO offer price was in the range ₹310 - ₹326
Tata Capital IPO minimum Investment was ₹14260
Tata Capital IPO issue size was ₹ 147505.5 M - ₹ 155118.7 M
Tata Capital had a minimum lot size of 46 Shares per application
Tata Capital NUMBER OF SHARES ON OFFER
Tata Capital IPO IMPORTANT DATES
| Issue Open Date | 06 Oct 2025 |
| Issue close Date | 08 Oct 2025 |
| Allotment Date | 09 Oct 2025 |
| Refund Date | 10 Oct 2025 |
| Demat Account Credit Date | 10 Oct 2025 |
| Listing Date | 13 Oct 2025 |
| Listing on Exchange(s) | NSE and BSE |
| Tata Capital Allotment Status | Exchange/ Registrar |
Tata Capital IPO subscription opened on 06 Oct 2025, and closed on 08 Oct 2025
IPO allotment for Tata Capital was finalized on Thursday, 09 Oct 2025
IPO listing for Tata Capital was on NSE and BSE on Monday, 13 Oct 2025
Tata Capital IPO LISTING GAINS
| Issue Price (adjusted) | 326.0 |
| Listing Open Price | 330.0 |
| Listing Close Price | 330.5 |
| Listing Gain% | 1.2% |
| Current Gain% | 13.6% |
Tata Capital Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tata Capital Ltd. | 370.3 | 157187.5 | 29.1 | 1 | 4.8 | 10.8 | 1.7 | 31582.6 | 11.3 | 4846.1 | 32.2 | 12.7 | 28.9 |
| Bajaj Finance Ltd. | 1078 | 671157.9 | 33.1 | 2 | 7.8 | 16.7 | 3.4 | 81989.5 | 17.6 | 19017.4 | 14.3 | 32.6 | 16.5 |
| Shriram Finance Ltd. | 1115 | 262353.7 | 23.2 | 1.4 | 5.2 | 15.2 | 3.1 | 48192.6 | 15.1 | 10024.2 | 4.9 | 48.1 | 16.8 |
| Jio Financial Services Ltd. | 256.8 | 169568.7 | 82.1 | 3 | 34.6 | 1.2 | 1 | 3542.6 | 70.4 | 1560.9 | -3.2 | 3.1 | 27.2 |
| Cholamandalam Investment & Finance Company Ltd. | 1866.2 | 157282.2 | 27.3 | 0.9 | 4.8 | 17.2 | 2.1 | 31538.7 | 20.6 | 5232.6 | 22.8 | 68.2 | 29.1 |
| Muthoot Finance Ltd. | 2890 | 116024.4 | 10.2 | 0.1 | 3.5 | 27.1 | 5.4 | 31263.4 | 53.8 | 10590.3 | 98.6 | 283.3 | 84.8 |
Tata Capital INFORMATION ON IPO ISSUE
About Tata Capital
Tata Capital was incorporated on March 8, 1991. The company is a flagship financial services arm of the Tata group and the third-largest diversified non-banking financial company in India by total gross loans as of March 2025. It focuses on retail and small and medium enterprise lending, with strong asset quality, wide distribution, and a digital-first approach
Object of the Issue
- Augmentation of the company’s Tier–1 capital base to meet the company’s future capital requirements including onward lending
Tata Capital - PROMOTERS
| Name |
|---|
| Tata Sons Private Limited |
Tata Capital - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Saurabh Agrawal | Chairman & Non-Executive Director |
| Sujit Kumar Varma | Independent Director |
| Nagaraj Ijari | Independent Director |
| Punita Kumar Sinha | Independent Director |
| Ramanathan Viswanathan | Independent Director |
| Rajiv Sabharwal | Managing Director |
| Geetha Ravichandran | Additional & Independent Director |
| Ankur Verma | Additional & Non-Executive Director |
Tata Capital Book Running Lead Manager
Kotak Mahindra Capital Company Limited
tatacapital.ipo@kotak.com
Axis Capital Limited
tatacapital.ipo@axiscap.in
BNP Paribas
DL.TataCapital.IPO@bnpparibas.com
Citigroup Global Markets India Private Limited
tatacapitalipo@citi.com
HDFC Bank Limited
tcl.ipo@hdfcbank.com
HSBC Securities and Capital Markets (India) Private Limited
tatacapipo@hsbc.co.in
ICICI Securities Limited
tatacapital.ipo@icicisecurities.com
IIFL Capital Services Limited
tatacapital.ipo@iiflcap.com
J.P. Morgan India Private Limited
TataCapital_IPO@jpmorgan.com
SBI Capital Markets Limited
tatacapital.ipo@sbicaps.com
Tata Capital Registrar to the Offer
MUFG Intime India Private Limited
tatacapital.ipo@in.mpms.mufg.com
Tata Capital Strengths
Omni-channel distribution
The company uses a strong omni-channel model combining a pan-India branch network (1,496 branches), 30,000+ channel partners, and digital platforms (21M+ app downloads). This enables a wide customer reach, efficient servicing, and deep market penetration across urban and rural locations
Risk framework
The company maintains one of the lowest non-performing loan ratios among large diversified non-banking financial companies, supported by a proactive risk culture, analytics-driven credit underwriting, and a hybrid in-house plus outsourced collections infrastructure
Digital-led operations
Digital and analytics are embedded across all functions—onboarding, underwriting, collections, and servicing. With 97.8% digital onboarding and 98.6% digital collections in FY25, the company enhances efficiency, lowers costs, and offers a seamless customer experience through AI and ML-driven platforms
Tata Capital Risks
Customer default risk
The company faces risks from customers defaulting or delaying repayments due to bankruptcy, operational issues, or economic downturns. Higher defaults may raise non-performing assets (NPAs), reduce income, increase collection costs, and impact overall financial performance
Collateral recovery risk
Secured loans are exposed to risks in enforcing or recovering collateral. Decline in asset values, difficulty in repossession, or valuation errors may prevent full recovery, especially for depreciating assets like vehicles or machinery
Interest rate volatility
Fluctuations in interest rates can impact the company’s borrowing costs and net interest margins. Rising rates may reduce loan demand, increase defaults, and make it harder to raise low-cost funds, affecting profitability and cash flows
IPO FAQs
This IPO consists of an offer for sale of up to Rs 8,665.9 crore, of 265,824,280 shares. It also consists of a fresh issue of Rs 6,846.0 crore.
The promoter of the company is Tata Sons Private Limited.
The category allocation of qualified institutional buyers is 49.9%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 34.9%.
The price band of the IPO is Rs 310.0 - 326.0.
The IPO application opens on Oct 06, 2025 and closes on Oct 08, 2025.
The minimum lot size for the IPO is 46. The maximum lot size for the IPO is 598.
For all category investors, the minimum application amount for this IPO is Rs. 14,260.0, the maximum value for this IPO is Rs 194,948.0.
This IPO will be allotted on Oct 09, 2025.
The refund will be credited to your account on Oct 10, 2025.
The allotted shares will be credited to your demat on Oct 10, 2025.
Tata Capital Ltd.’s shares listed on the stock exchanges on Oct 13, 2025.