Tata Capital, the financial services arm of the Tata Group, is launching India’s biggest initial public offering of the year, aiming to raise up to $1.7 billion. The offering includes up to 475.8 million shares — both new and existing, priced approximately $3.72 to $3.91 per share. Key stakeholders participating in the sale include Tata Sons and the International Finance Corporation.
The IPO process begins with anchor investors on October 3, followed by retail investors from October 6 to 8. Tata Capital shares are set to debut on India’s National Stock Exchange on October 13. Proceeds will be used to bolster the company’s capital base and expand lending operations.
Anchor investors — large institutional backers — will purchase about 30% of the total 475.8 million shares offered. They are allocated shares before the IPO opens to the public and must hold them for a set period post-listing. The public share sale runs from October 6 to October 9, with Tata Capital’s stock expected to list on October 13.
Tata Capital operates nearly 1,500 branches across India, serving 7 million customers with products ranging from home and business loans to microfinance, private equity, and credit cards. The company reported a 16% increase in net profit, reaching close to $462 million for the fiscal year ending in March.
This IPO comes amid a surge in India’s public market activity. Urban Co. recently saw a 62% jump on its trading debut, marking the strongest performance for an IPO over $100 million. Upcoming listings include Walmart-backed PhonePe and Reliance Jio, India’s largest wireless provider.
The IPO includes:
- Fresh issue: Up to 210 million new shares
- Offer for sale: Up to 265.8 million shares from existing shareholders Tata Sons and the International Finance Corporation
India’s IPO market is booming, with an estimated $8 billion in offerings expected in Q4 2025. Year-to-date IPO fundraising has already reached $10.5 billion, nearing last year’s record of $20 billion. Upcoming major listings include LG Electronics India and WeWork India Management
Last updated: December 26th, 2025
