Biggest IPO of the Year: Tata Capital Opens Bidding in Early October

Tata Capital has announced the price range for its IPO. The company plans to raise Rs. 15,511 crore. Each share is priced between Rs. 310 and Rs. 326, with a face value of Rs. 10.

For anchor investors, bidding will start on October 3. Regular investors can apply between October 6 and October 8. Share allotment will happen on October 9, and the shares are likely to be listed on the BSE and NSE on October 13. This will be the biggest IPO of the year.

There will be a huge discount in the IPO

Unlisted shares of the company are trading at Rs 735, which is 55.6% lower than the IPO price. Back in April, the same shares had gone up to Rs 1,125 in the unlisted market.

Use of funds and share sale details

The company will issue 210 million new shares, and the money raised will be used to grow the business and support strategic plans. In addition, existing investors will sell 265.8 million shares through an Offer for Sale (OFS). Out of this, Tata Sons will sell 230 million shares, while IFC will sell 35.8 million shares.

Management: The IPO is being led by leading book-running lead managers such as Kotak Mahindra Capital, BNP Paribas, Axis Capital, Citigroup, HDFC Bank, HSBC, ICICI, IIFL, JP Morgan and SBI Capital.

Registrar: The registrar is MUFG Intime India Private Limited.