Financial services firm Tata Capital has filed preliminary papers for Rs 15,000 crore plus IPO under the confidential pre-filing route with markets regulator Sebi. The mega IPO will comprise both issuance of new shares as well as offloading of stake by Tata Sons, which owns 93% equity stake in Tata Capital.
Tata Capital, identified as an upper-layer non-banking finance company ( NBFC) by the Reserve Bank of India (RBI), already received its board approval to float the IPO which may comprise 2.3 crore equity shares by way of a fresh issue and an offer of sale (OFS) by certain existing shareholders, according to a disclosure made to stock exchanges earlier.
According to RBI's rules, Tata Sons and Tata Capital are treated as upper layer NBFCs and are required to list shares by September 2025.
If successful, this would be one of the biggest initial share sales in the country's financial sector. This would also be the Tata Group's second public market debut in recent years after the listing of Tata Technologies in November 2023.
In FY24, Tata Capital reported a revenue of Rs 18,178 crore, a 34% jump over FY23. The company's loan book crossed Rs 1 lakh crore with a growth of 40% YoY and the profits were highest ever at Rs 3,150 crore.
For the first half of the current fiscal, the growth momentum continued with profit growing 21% to Rs 1,825 crore.
Tata Capital is a flagship financial services company of the Tata Group and a subsidiary of Tata Sons, which carries on business as a non-banking financial company.
Tata Capital and its subsidiaries are engaged in providing a wide array of services in the financial services sector and operate across various areas of business including commercial finance, consumer loans, wealth services and distribution and marketing of Tata cards.
Tata Capital, identified as an upper-layer non-banking finance company ( NBFC) by the Reserve Bank of India (RBI), already received its board approval to float the IPO which may comprise 2.3 crore equity shares by way of a fresh issue and an offer of sale (OFS) by certain existing shareholders, according to a disclosure made to stock exchanges earlier.
According to RBI's rules, Tata Sons and Tata Capital are treated as upper layer NBFCs and are required to list shares by September 2025.
If successful, this would be one of the biggest initial share sales in the country's financial sector. This would also be the Tata Group's second public market debut in recent years after the listing of Tata Technologies in November 2023.
In FY24, Tata Capital reported a revenue of Rs 18,178 crore, a 34% jump over FY23. The company's loan book crossed Rs 1 lakh crore with a growth of 40% YoY and the profits were highest ever at Rs 3,150 crore.
For the first half of the current fiscal, the growth momentum continued with profit growing 21% to Rs 1,825 crore.
Tata Capital is a flagship financial services company of the Tata Group and a subsidiary of Tata Sons, which carries on business as a non-banking financial company.
Tata Capital and its subsidiaries are engaged in providing a wide array of services in the financial services sector and operate across various areas of business including commercial finance, consumer loans, wealth services and distribution and marketing of Tata cards.
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