Shares of Tata Capital, India’s largest initial public offering (IPO) of 2025, are set to make their stock market debut on Monday, October 13. The Rs 15,500 crore IPO witnessed strong demand during the three-day bidding period, achieving full subscription across all investor categories.
Investors placed bids for 65.12 crore shares of Tata Capital, nearly double the 33.34 crore shares on offer, taking the total subscription figure to 1.95 times the available stock. Institutional investors led the bidding process, with the overall subscription at 3.42 times the shares reserved for them. Qualified Institutional Bidders (QIBs) alone applied for 32.44 crore shares, against 9.49 crore reserved for this category.
Non-institutional investors also showed strong interest, bidding for 14.1 crore shares against 7.11 crore on offer, while the retail investor portion recorded full subscription at 1.1 times, with bids placed for 18.2 crore shares versus 16.6 crore available.
The Tata Capital IPO combined a fresh equity issue worth Rs 6,846 crore with an Offer For Sale (OFS) by promoters Tata Sons and the International Finance Corporation (IFC) amounting to Rs 8,665 crore.
However, reports from the unlisted market indicate a subdued debut, with the Grey Market Premium (GMP) ranging between Rs 0 and Rs 6 per share. Market experts caution that these are speculative rates, and the actual listing price could differ.
The IPO opened alongside those of WeWork India and LG Electronics India. WeWork made its market debut on Friday, ending its first trading session with a 2.5 per cent loss. LG Electronics India is expected to list on Tuesday. Collectively, these offerings have drawn unprecedented interest, with total bids across the three IPOs nearing Rs 4.5 lakh crore, making Tata Capital the most bid issue in Indian history. |
