Tata Capital shares to list in Mumbai after ₹15,500-crore IPO
HYDERABAD: Tata Capital Ltd is set to debut on the stock exchanges in Mumbai after completing India’s largest initial public offering (IPO) of the year, raising ₹15,500 crore ($1.7 billion). The shadow lender’s issue, backed by anchor investors such as Morgan Stanley and Goldman Sachs Group Inc., marks the biggest fundraise since Hyundai Motor India Ltd’s $3.3-billion listing in 2024.
According to market watchers, they expect Tata Capital’s shares to open close to the issue price of ₹326 based on grey market trends.
Brokerages positive on long-term outlook
Tata Capital, a unit of the Tata Group, enters the market with expectations of steady long-term growth driven by a strong brand and expanding branch network, said brokerage Choice in a note. However, it added that some performance metrics—such as return on assets—remain lower than those of its peers, advising investors to consider it a long-term bet.
IPO boom continues in India
The listing comes amid India’s rising profile as a global fundraising destination, supported by strong domestic liquidity and an expanding retail investor base. The country has ranked among the world’s busiest IPO markets over the past two years, attracting global funds seeking exposure to India’s fast-growing consumer economy.
Analysts expect October to be the biggest month ever for Indian IPOs, projecting total proceeds to exceed $5 billion. The listing of LG Electronics Inc.’s India unit on Tuesday will add to a busy debut calendar this week.
