Tata Capital Announces ₹310–326 Price Band for $1.75 Billion IPO, Eyeing $15 Billion Valuation

Tata Capital has set a price band of ₹310-326 per share for its $1.75 billion initial public offering, targeting a valuation of approximately $15 billion. This marks India's largest listing so far this year. The Mumbai-based non-bank lender will open the offer for bids on October 6, issuing up to 210 million new shares while existing shareholders offload up to 265.8 million shares.

Tata Sons, holding an 88.6% stake, will sell up to 230 million shares, while early investor International Finance Corporation plans to divest up to 35.8 million shares. The IPO, filed confidentially earlier this year, adheres to central bank norms requiring upper-layer non-banking financial companies to list by September.

Tata Capital becomes the first Tata Group company to go public since Tata Technologies in November 2023. The confidential filing route allowed limited initial disclosures, with full details unveiled upon IPO launch.