Tata Capital to launch 2025's biggest IPO between October 6-8

On April 5, Moneycontrol was the first to report that Tata Capital had filed draft papers with SEBI via the confidential pre-filing route for an over Rs 15,000 crore IPO

Tata Capital, the flagship financial services arm of the Tata Group filed its red herring prospectus with Sebi and the bourses on September 26, taking the firm a step closer to its mega IPO.

"The offer comprises a fresh issue of up to 210,000,000 equity shares of face value of Rs 10 each and an offer for sale by certain selling shareholders of the company of up to 265,824,280 Equity Shares, an exchange disclosure said.

"Further, please note that the Bid / Offer opens on Monday, October 6, 2025 and closes on Wednesday, October 8, 2025. The Anchor Investor Bidding Date shall be Friday, October 3, 2025, " the disclosure added.

The development confirms a story first broken by Moneycontrol on September 23 on the issue launch timelines, including other details on size of the offer and proposed valuation.

Tata Group is targeting a post-money equity valuation of around $16.5 billion for the big-bang initial public offering (IPO) with the combined IPO size (fresh issue of shares plus OFS by Tata Sons and IFC or International Finance Corporation) pegged around $1.85 billion or Rs 16,400 crore, the report had added.

Insurance giant LIC is likely to make a big bet on this issue with the anchor portion likely on October 3 and the issue gearing up to launch between October 6 and 8, the report said further.

Tata Sons holds a substantial majority stake in Tata Capital. External investors IFC and other group companies like TMF Holdings Ltd, Tata Investment Corporation, Tata Motors, Tata Chemicals, Tata Power and others hold the balance stake as per the draft documents.

According to Reserve Bank norms, upper layer NBFC's like Tata Capital have to mandatorily list on the domestic bourses by September 30, but the firm secured a minor extension from the banking regulator recently, according to reports.

Tata Capital: Road to Dalal Street

On April 5, Moneycontrol was the first to report that Tata Capital had filed draft papers with SEBI via the confidential pre-filing route for an over Rs 15,000 crore IPO.

Earlier on March 21, Moneycontrol was also the first to report that the top NBCF had engaged a bevy of 10 investment banks as advisors for the mega listing and was likely to opt for the confidenttial pre-filing route. Kotak Mahindra Capital, Citi, Axis Capital, JP Morgan, HSBC Securities, ICICI Securities, IIFL Capital, BNP Paribas, SBI Capital and HDFC Bank were engaged, the report had added.