Tata Capital IPO: Check IPO Date, Live Subscription and Key Details
Tata Capital Limited (TCL), a subsidiary of Tata Sons, is the third-largest diversified Non-Banking Financial Company (NBFC) in India by gross loan book, providing financial products and services to retail, corporate, and institutional clients. Its comprehensive suite includes over 25 lending products, with a focus on Retail and SME financing (88.5% of total gross loan book). The company also has significant verticals in Wealth Management, Investment Banking, Private Equity, and Cleantech Finance. Tata Capital boasts a strong 'AAA' credit rating and a robust pan-India omni-channel distribution network of 1,496 branches across 27 States. Its loan book growth stood at a robust 37.3% CAGR from FY23 to FY25.
Price Range
₹310.0 - ₹326.0
Issue Size
₹15,511.87 Crore
Lot Size
46 shares
IPO Type
Mainboard
GMP
₹3.5(+1.07%)
Est. Listing Price
₹329.5
Invisible
-
Invisible
-
Key Metrics
Check Live GMP
Face Value
₹10
EPS
9.81
P/E Ratio
33.24
RoNW
12.6%
ROE
12.6%
Debt to Equity
6.6
Timeline
IPO Opens
6 Oct
IPO Closes
8 Oct
Allotment
9 Oct
Listing
13 Oct
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 6 October 2025 | Subscription starts |
| IPO Close Date | 8 October 2025 | Subscription ends |
| Allotment Date | 9 October 2025 | Allotment |
| Listing Date | 13 October 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,996 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,94,948 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,09,944 |
SHNI (Max)Below ₹10,00,000 | 66 | ₹9,89,736 |
BHNIAbove ₹10,00,000 | 67 | ₹10,04,732 |
IPO Objectives
- Augmentation of our Company’s Tier –I capital base to meet our Company’s future capital requirements including onward lending (Fresh Issue of ₹6,846.00 Cr).
- Offer for Sale by existing shareholders to achieve the benefits of listing and provide liquidity (OFS of ₹8,665.87 Cr).
Strengths
- The company benefits from the strong Tata Group legacy, which ensures unmatched brand trust, high customer confidence, and the highest domestic credit rating of 'AAA'.
- It is a leading diversified NBFC, offering a comprehensive suite of over 25 lending products and non-lending verticals like Wealth Management and Investment Banking.
- The business uses an omni-channel distribution model, combining a robust pan-India physical branch network with advanced digital platforms for superior customer reach.
- It maintains superior Asset Quality, with a Net Stage 3 Loans Ratio of 0.8% (ex-TMFL merger impact), which is among the best in the NBFC sector.
- The company has an experienced management team and a strong track record of loan book growth (37.3% CAGR FY23-FY25).
Weaknesses
- The company has a high debt-to-equity ratio of 6.40 in FY25, indicating significant financial leverage.
- It is facing declining Return Ratios (RoE 12.6%, RoA 1.8% in FY25), partly due to aggressive capital expansion and the merger with TMFL.
- The business has a lower Net Interest Margin (NIM) of 5.2% compared to industry leaders, which can limit profitability.
- The TMFL merger introduced integration risk and a loan book with a higher Gross NPA ratio (7.1%), requiring substantial provisions.
- The company faces intense competition from NBFC giants like Bajaj Finance and Shriram Finance, along with increasing regulatory scrutiny.
Financial Performance
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 2,52,254.28 | 2,48,465.01 | 1,76,693.98 | 1,35,626.1 |
| Revenue (₹ Cr.) | 7,691.65 | 28,369.87 | 18,198.38 | 13,637.49 |
| PAT (₹ Cr.) | 1,040.93 | 3,655.02 | 3,326.96 | 2,945.77 |
| Net Worth (₹ Cr.) | 32,761.73 | 32,587.82 | 23,540.19 | 17,959.06 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Tata Capital | 4.1 | 33.24 | 12.6% | 32,761.73 |
| Bajaj Finance | 6.37 | 35.34 | 17.21% | 98,937.63 |
| Shriram Finance | 2.15 | 12.53 | 14.71% | 56,470.3 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.52x | 0.86x | 3.42x |
| NII | 0.29x | 0.76x | 1.98x |
| S-HNI | 0.48x | 1.05x | 2.14x |
| B-HNI | 0.19x | 0.61x | 1.9x |
| RII | 0.35x | 0.68x | 1.1x |
| EMP | 1.1x | 1.95x | 2.92x |
| Total | 0.39x | 0.75x | 1.96x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 9,49,24,856 | 32,44,77,652 | 10,577.97 |
| NII | 7,11,93,642 | 14,10,62,634 | 4,598.64 |
| Small NII | 2,37,31,214 | 5,07,57,826 | 1,654.71 |
| Big NII | 4,74,62,428 | 9,03,04,808 | 2,943.94 |
| RII | 16,61,18,498 | 18,29,12,376 | 5,962.94 |
| EMP | 12,00,000 | 35,07,178 | 114.33 |
| Total | 33,34,36,996 | 65,19,59,840 | 21,253.89 |
Company Details
- Tata Capital Ltd.
- 11th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai, Maharashtra-400013
- +91 022 6606 900
- investors@tatacapital.com
- https://www.tatacapital.com/
Registrar Details
- MUFG Intime India Pvt.Ltd.
- +91-22-4918 6270
- tatacapital.ipo@in.mpms.mufg.com
- https://linkintime.co.in/Initial_Offer/public-issues.html