IPO-bound Tata Capital has wrapped up a series of investor roadshows across key financial centres, people aware of the matter told Moneycontrol, adding that the exercise drew strong participation from both global and domestic institutions.
Moneycontrol first reported on August 8 that Tata Capital had kicked off investor roadshows for its IPO.
The company is expected to make its market debut in September itself, the people cited above added. Based on investor feedback from the roadshows and peer benchmarks, the company’s listing is expected to peg its market value around $18 billion, the sources added.
Sources said that the roadshows, which began last month, were aimed at building momentum ahead of the company’s much-anticipated initial public offering, slated to be the largest public issue of 2025.
Tata Capital’s senior leadership held meetings with investors across key global hubs including Hong Kong, Singapore, London, New York and major Indian cities, they added.
These investor roadshows focused on showcasing the company’s diversified portfolio, financial strength, and long-term digital-led growth strategy. “The sessions witnessed encouraging institutional demand, with investors responding positively to the Tata Group’s legacy and the NBFC’s focus on digital-led growth,” said one of the sources.
The issue size is expected to be around Rs 17,200 crore, making it the largest IPO of the year. The share sale will comprise a fresh issue of up to 21 crore equity shares along with an offer for sale (OFS) of up to 26.58 crore shares, aggregating to 47.58 crore shares, as per the updated Draft Red Herring Prospectus (DRHP) filed on August 4.
Tata Sons, the promoter of Tata Capital, is expected to offload up to 23 crore shares, while International Finance Corporation will divest up to 3.58 crore shares under the OFS component.
Proceeds from the fresh issue are earmarked for augmenting Tier-I capital and supporting lending expansion.
With the investor outreach program concluded, Tata Capital is now set to move into the final leg of its listing preparations. Timelines for the launch of the IPO will be decided soon, the sources cited above said.
A spokesperson for Tata Capital could not be immediately reached for a comment.
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