Tata Capital Gears Up for Mandatory Listing with Updated IPO Filing
By ScanX News Team
Tata Capital Ltd., a major NBFC, has filed updated draft papers for its IPO after receiving regulatory approval. The IPO structure includes a fresh issue of up to 21.00 crore new shares and an Offer for Sale (OFS) of up to 23.00 crore shares by Tata Sons Pvt. and 3.58 crore shares by IFC. The company has appointed five lead managers: Kotak Mahindra Capital, Axis Capital, BNP Paribas, Citigroup Global Markets India, and HDFC Bank. The size and pricing details of the IPO are yet to be disclosed.
*this image is generated using AI for illustrative purposes only.
Tata Capital Ltd., a prominent non-banking financial company (NBFC), has taken a significant step towards its mandatory listing by filing updated draft papers for its Initial Public Offering (IPO). This move comes after receiving approval from the market regulator for its confidential papers.
IPO Structure
The IPO structure, as outlined in the updated filing, comprises two key components:
- Fresh Issue: Tata Capital plans to issue up to 21.00 crore new shares.
- Offer for Sale (OFS):
- Tata Sons Pvt., the primary stakeholder, will sell up to 23.00 crore shares.
- International Finance Corp. (IFC) will offload 3.58 crore shares.
It's worth noting that the company has opted against any pre-IPO placement, choosing to proceed directly with the public offering.
Lead Managers
Tata Capital has enlisted the services of five major financial institutions to manage the book-running process for this IPO:
- Kotak Mahindra Capital Co.
- Axis Capital Ltd.
- BNP Paribas
- Citigroup Global Markets India Pvt.
- HDFC Bank Ltd.
These renowned institutions will play a crucial role in facilitating the IPO process and ensuring its smooth execution.
Market Implications
The mandatory listing of Tata Capital, a subsidiary of the Tata Group, is likely to draw significant attention from investors and market watchers alike. As an NBFC, Tata Capital's entry into the public market could provide investors with a new opportunity in the financial services sector.
The size of the fresh issue and the quantum of shares being offered for sale indicate that this could be a substantial IPO. However, the exact size and pricing details are yet to be disclosed.
Conclusion
With the filing of updated draft papers, Tata Capital has moved a step closer to its public debut. As the process unfolds, market participants will keenly await further details on the IPO timeline, pricing, and other specifics. This listing is set to be a significant event in India's capital markets, given the Tata Group's reputation and Tata Capital's position in the financial services industry.
19
