Tata Capital shares made a muted debut on Monday, listing at Rs 330 per share on both the National Stock Exchange (NSE) and the BSE with a premium of just 1.23 per cent over its issue price of Rs 326. The non-banking financial company’s Rs 15,512 Crore IPO, which was open for subscription from October 6 to 8, had received a moderate response with 1.95 times overall bids.
The company’s market capitalisation stood at Rs 1,39,783.54 crore at the time of listing. Among investor categories, Qualified Institutional Buyers (QIBs) drove the subscription momentum, booking 3.42 times the reserved portion with bids for 32.44 crore shares against 9.49 crore shares on offer. The Non-Institutional Investors (NII) segment saw 1.98 times subscription, while retail investors subscribed 1.10 times, bidding for 18.21 crore shares against the 16.61 crore available.
Domestic and global investment banks including Kotak Mahindra Capital, Axis Capital, BNP Paribas, and HDFC Bank acted as joint bookrunners for the issue.
Tata Capital, India’s third-largest non-bank lender by revenue, provides a wide range of financial services such as retail loans, SME financing, corporate solutions, and infrastructure lending.
India continues to be one of the world’s most vibrant IPO markets. According to EY’s latest global IPO report, the country saw 146 IPOs that raised about Rs 60,000 crore in the third quarter of this year. This brought the nine-month total to 254 IPOs raising around Rs 98,500 crore, highlighting the growing depth and resilience of India’s domestic capital markets.
Despite the subdued listing, analysts said Tata Capital’s fundamentals and brand strength could support long-term investor confidence once broader market volatility stabilises. |
