The Tata Capital IPO is scheduled to open on October 6, 2025, and will close on October 8, 2025. This is a Book-Built Issue IPO, through which the company aims to raise approximately ₹15,511.87 crores. The issue includes a fresh issue worth ₹6,846 crores and an offer for sale (OFS) of up to 26,58,24,280 equity shares with a face value of ₹10 each. The Tata Capital IPO price band has been set between ₹310 to ₹326 per share. The retail investor quota stands at 35%, while QIBs and HNIs have been allocated 50% and 15%, respectively. The IPO allotment date is expected on October 9, 2025, and the listing will take place on both BSE and NSE on October 13, 2025.
Financially, Tata Capital has delivered strong growth over the years. The company reported a revenue of ₹28,369.87 crores in FY 2025, up from ₹18,198.38 crores in FY 2024, showcasing solid business expansion. Its net profit also grew to ₹3,655.02 crores in FY 2025, compared to ₹3,326.96 crores in FY 2024, reflecting consistent performance and profitability. Considering the company’s strong fundamentals, reputed brand value, and stable earnings, experts suggest that investors may consider applying for the Tata Capital IPO with a long-term investment perspective for potentially rewarding returns.
Table of contents
- Tata Capital IPO Date & Price Band Details
- Tata Capital IPO Market Lot
- Tata Capital IPO Reservation
- Tata Capital IPO Anchor Investors
- Tata Capital IPO Allotment & Listing Dates
- Tata Capital IPO: Promoters and Holding Pattern
- Objects of the Issue & Utilisation of proceeds – Tata Capital IPO
- Tata Capital IPO Company Financial Report
- Tata Capital IPO Valuation – FY2025
- Tata Capital IPO Peer Group Comparison
- Tata Capital Company Overview, Key Points, Strengths, and Risks
- Tata Capital IPO Registrar
- IPO Lead Managers aka Merchant Bankers
- Tata Capital Company Address
- FAQs about Tata Capital IPO
Tata Capital IPO Date & Price Band Details
The Tata Capital IPO opens on October 6, 2025, and closes on October 8, 2025. This Book-Build Issue aims to raise around ₹15,511.87 crores with a price band of ₹310–₹326 per share. It includes a fresh issue of ₹6,846 crores and an OFS of 26,58,24,280 shares, listing on BSE & NSE.
| IPO Details | Details |
|---|---|
| IPO Open Date: | October 6, 2025 |
| IPO Close Date: | October 8, 2025 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹310 to ₹326 Per Share |
| Issue Size: | Approx ₹15,511.87 Crores |
| Fresh Issue: | Approx ₹6,846 Crores |
| Offer for Sale: | Approx 26,58,24,280 Equity Shares |
| Issue Type: | Book Build Issue |
| IPO Listing: | BSE & NSE |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
Tata Capital IPO Market Lot
The Tata Capital IPO lot size is 46 shares per lot, with a minimum investment of ₹14,996 for retail investors. Retail investors can apply for up to 13 lots (598 shares) worth ₹1,94,948. The S-HNI category starts from 14 lots (₹2,09,944), while B-HNIs can invest from 68 lots (₹10,04,732) onward.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 46 | ₹14,996 |
| Retail Maximum | 13 | 598 | ₹1,94,948 |
| S-HNI Minimum | 14 | 644 | ₹2,09,944 |
| S-HNI Maximum | 67 | 3,036 | ₹9,89,736 |
| B-HNI Minimum | 68 | 3,082 | ₹10,04,732 |
The Tata Capital IPO Subscription Status will be updated after the bidding process begins on October 6, 2025.
Tata Capital IPO Reservation
In the Tata Capital IPO, Qualified Institutional Buyers (QIBs) are offered 23,73,12,140 shares, accounting for 49.87% of the total issue. Non-Institutional Investors (NIIs) will get 7,11,93,642 shares (14.96%), while retail investors are allotted 16,61,18,498 shares (34.91%). Additionally, 12,00,000 shares (0.25%) are reserved for employees.
| Investor Category | Share Offered | % Shares |
|---|---|---|
| QIBs Shares Offered | 23,73,12,140 Shares | 49.87% |
| NII Shares Offered | 7,11,93,642 Shares | 14.96% |
| Retail Shares Offered | 16,61,18,498 Shares | 34.91% |
| Employee Shares Offered | 12,00,000 Shares | 0.25% |
Tata Capital IPO Anchor Investors
The Tata Capital IPO anchor bidding is scheduled for October 3, 2025, with 14,23,87,284 shares allotted to anchor investors, aggregating to ₹4,641.83 crores. The Anchor Investors List will be available in PDF format. As per SEBI norms, 50% of anchor shares will have a lock-in period till November 8, 2025, and the remaining 50% till January 7, 2026.
| Anchor Event | Details |
|---|---|
| Anchor Bidding Date | October 3, 2025 |
| Anchor Investors List | Click Here |
| Shares Offered | 14,23,87,284 Shares |
| Anchor Size | 4,641.83 Cr. |
| lock-in period end date 50% shares (30 Days) | November 8, 2025 |
| lock-in period end date 50% shares (90 Days) | January 7, 2026 |
Tata Capital IPO Allotment & Listing Dates
The Tata Capital IPO will open on October 6, 2025, and close on October 8, 2025, with a bidding cut-off time of 5 PM on the closing day. The basis of allotment will be finalized on October 9, 2025, while refunds and credit to Demat accounts will take place on October 10, 2025. The IPO listing date is set for October 13, 2025, on both BSE and NSE.
| Event | Date |
|---|---|
| IPO Open Date: | October 6, 2025 |
| IPO Close Date: | October 8, 2025 |
| Basis of Allotment: | October 9, 2025 |
| Refunds: | October 10, 2025 |
| Credit to Demat Account: | October 10, 2025 |
| IPO Listing Date: | October 13, 2025 |
| IPO Bidding Cut-off Time: | October 8, 2025 – 5 PM |
Tata Capital IPO: Promoters and Holding Pattern
Before the IPO, Tata Capital’s promoter holding stood at 4,03,48,69,037 shares, representing 95.6% of the total equity. After the IPO, the promoter holding will reduce to 4,24,48,69,037 shares, accounting for 85.5%, reflecting increased public participation and diversified ownership post-listing.
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 4,03,48,69,037 | 95.6% |
| Promoter Holding Post Issue | 4,24,48,69,037 | 85.5% |
Objects of the Issue & Utilisation of proceeds – Tata Capital IPO
| Purpose | Crores |
|---|---|
| Augmentation of our Company’s Tier –Icapital base to meet our Company’s future capital requirements including onward lending | – |
Tata Capital IPO Company Financial Report
Tata Capital has demonstrated strong and consistent financial growth over the past three years. The company’s revenue increased from ₹13,637.49 crores in FY 2023 to ₹28,369.87 crores in FY 2025, showcasing remarkable expansion. During the same period, profits (PAT) improved from +₹2,945.77 crores to +₹3,655.02 crores, highlighting efficient operations and profitability. Additionally, total assets surged from ₹1,35,626.10 crores in 2023 to ₹2,48,465.01 crores in 2025, reflecting Tata Capital’s robust financial foundation and sustained business growth.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹13,637.49 | ₹9,847.63 | ₹2,945.77 | ₹1,35,626.10 |
| 2024 | ₹18,198.38 | ₹13,794.78 | ₹3,326.96 | ₹1,76,693.98 |
| 2025 | ₹28,369.87 | ₹23,448.73 | ₹3,655.02 | ₹2,48,465.01 |
Tata Capital IPO Valuation – FY2025
Based on key performance indicators, Tata Capital maintains a strong financial profile. The company’s Return on Equity (ROE) stands at 12.6%, while the Return on Net Worth (RoNW) is 11.2%, reflecting efficient capital utilization. The Earnings Per Share (EPS) is ₹9.3 (Basic), and the Net Asset Value (NAV) is ₹79.5. Although ROCE, EBITDA Margin, and PAT Margin are not disclosed, Tata Capital continues to demonstrate stability with a healthy balance sheet and a sustainable growth outlook.
| KPI | Values |
|---|---|
| ROE: | 12.6% |
| ROCE: | -% |
| EBITDA Margin: | -% |
| PAT Margin: | -% |
| Debt to equity ratio: | NA |
| Earning Per Share (EPS): | ₹9.3 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 11.2% |
| Net Asset Value (NAV): | ₹79.5 |
Tata Capital IPO Peer Group Comparison
When compared to its peers, Tata Capital shows a competitive position in the NBFC (Non-Banking Financial Company) sector. Leading players like Bajaj Finance, Shriram Finance, and Cholamandalam Investment have demonstrated strong performance with higher EPS and RoNW, setting a benchmark for profitability.
For instance, Bajaj Finance reported an EPS of ₹26.89 and RoNW of 17.35%, while Cholamandalam Investment achieved an EPS of ₹50.72 with 18.01% RoNW. Shriram Finance also stands strong with an EPS of ₹50.82 and 16.83% RoNW. In comparison, Tata Capital’s EPS of ₹9.3 and RoNW of 11.2% indicate stable performance and growth potential, especially given its upcoming IPO and brand backing. With an expanding revenue base and improving financial metrics, Tata Capital is poised to strengthen its position among India’s leading NBFCs.
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Bajaj Finance Limited | 26.89 | 32.6 | 17.35% | 155.6 | 69683.51 Cr. |
| Shriram Finance Limited | 50.82 | 12.1 | 16.83% | 300.3 | 41834.42 Cr. |
| Cholamandalam Investment and Finance Company Limited | 50.72 | 28.1 | 18.01% | 281.5 | 25845.98 Cr. |
| L&T Finance Limited | 10.61 | 19.0 | 10.34% | 102.5 | 15924.24 Cr. |
| Sundaram Finance Limited | 170.53 | 26.8 | 13.74% | 1,187.8 | 8485.63 Cr. |
| HDB Financial Services Limited | 27.40 | 27.4 | 14.57% | 198.8 | 16300.28 Cr. |
Tata Capital Company Overview, Key Points, Strengths, and Risks
Tata Capital Limited (TCL) is the flagship financial services company of the Tata Group and a Systemically Important Non-Deposit Accepting Core Investment Company (CIC) registered with the Reserve Bank of India (RBI). Established in 2007, the company acts as a comprehensive financial powerhouse, offering fund-based and fee-based services across the entire spectrum of financial markets in India.
TCL operates a highly diversified business model that caters to retail individuals, small and medium enterprises (SMEs), and large corporate clients. It leverages the unmatched brand trust and governance standards associated with the Tata name.
Key Points and Business Structure
| Key Metrics (Approx. as of Q1 FY26) | Detail |
|---|---|
| Market Position | Third largest diversified Non-Banking Financial Company (NBFC) in India. |
| Gross Loan Book | Approximately ₹2.33 Lakh Crore. |
| Primary Focus | Retail and SME segments, which constitute over 87% of the total loan book. |
| Distribution Model | “Phygital”: A blend of physical (1,500+ branches) and digital platforms. |
| Key Subsidiaries | Tata Capital Financial Services: Retail, SME, and Corporate lending. Tata Capital Housing Finance: Dedicated home and mortgage loans. Tata Cleantech Capital: Focused on green and sustainable finance (e.g., renewable energy projects). |
| Recent Strategic Action | Merger with Tata Motors Finance Ltd. (TMFL) to strengthen the vehicle finance segment and enhance scale. |
Core Strengths
Tata Capital’s resilience and growth potential are underpinned by several critical strengths:
- Strong Parentage and Brand Trust: The backing of the 150-year-old Tata Group provides significant competitive advantages, instilling high customer confidence, ensuring strong governance, and facilitating access to cost-effective, diversified funding.
- Highest Credit Rating: The company consistently maintains the highest domestic credit rating of ‘AAA/Stable’ from leading rating agencies (CRISIL, ICRA, etc.). This secures a robust and competitive cost of funds.
- Highly Diversified Portfolio: The wide spectrum of lending (personal loans, car loans, home loans, infrastructure finance, cleantech, and SME/corporate lending) helps mitigate concentration risk and ensures resilience across varying economic cycles.
- Digital-First Operations: Tata Capital is highly advanced in its use of technology, with AI and Machine Learning integrated across the customer lifecycle, from underwriting and risk assessment to collections. This “digital-first” approach drives efficiency and enhances the customer experience, with a majority of customers onboarded digitally.
- Prudent Asset Quality: Despite its rapid growth, Tata Capital has maintained strong asset quality metrics (Gross Stage 3 Loans/NPAs at around 2.1% as of June 2025), reflecting a sound risk management framework.
Risks and Watch Points
While Tata Capital holds a strong position, investors and observers note several key risks inherent to the NBFC sector and specific to the company:
- NBFC Sector Volatility: The business is highly sensitive to macroeconomic shifts, particularly changes in interest rates. A rise in borrowing costs can compress the company’s Net Interest Margin (NIM) and affect profitability.
- Intense Competition: Tata Capital faces strong competition from established NBFC giants (e.g., Bajaj Finance, Shriram Finance) and from large commercial banks, leading to pricing pressure and the need for continuous technological investment.
- Valuation and Returns: Compared to some top-tier listed peers, Tata Capital’s historical Return on Equity (RoE) of approximately 12.6% (FY25) is relatively lower. The recent IPO valuation was deemed “fully priced” by many analysts, suggesting limited room for immediate short-term gains.
- Integration Risk and Asset Quality: The recent merger with Tata Motors Finance (TMFL) resulted in a temporary increase in the consolidated Gross Non-Performing Assets (NPAs) and a moderation in return ratios. The successful integration and normalization of asset quality in the vehicle finance book pose an execution risk.
- Unsecured Loan Exposure: A significant portion (around 20%) of the loan book consists of unsecured loans. While these are higher-yielding, they carry a greater credit risk, especially during economic downturns, compared to secured loan products.
Tata Capital IPO Registrar
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: tatacapital.ipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
IPO Lead Managers aka Merchant Bankers
- Kotak Mahindra Capital Co.Ltd.
- Axial Capital Pvt.Ltd.
- BNP Paribas
- Citigroup Global Markets India Pvt.Ltd.
- HDFC Bank Ltd.
- HSBC Securities & Capital Markets (India) Pvt.Ltd.
- ICICI Securities Ltd.
- IIFL Capital Services Ltd.
- JP Morgan India Pvt.Ltd.
- SBI Capital Markets Ltd.
Tata Capital Company Address
Tata Capital Ltd.
11th Floor, Tower A, Peninsula Business Park,
Ganpatrao Kadam Marg,
Lower Parel
Mumbai, Maharashtra, 400013
Phone: +91 022 6606 900
Email: investors@tatacapital.com
Website: https://www.tatacapital.com/
FAQs about Tata Capital IPO
The Tata Capital IPO is scheduled to open for subscription on October 6, 2025, and will close on October 8, 2025.
The Tata Capital IPO Price Band has been set between ₹310 to ₹326 per share.
The total issue size is approximately ₹15,511.87 crores. This includes a fresh issue of approximately ₹6,846 crores and an Offer for Sale (OFS) of up to 26,58,24,280 equity shares.
The Tata Capital IPO lot size is 46 shares per lot. The minimum investment for a retail investor is ₹14,996 (1 lot), and the maximum is 13 lots, amounting to 598 shares (₹1,94,948).
Retail investors are allotted 34.91% of the total issue, Qualified Institutional Buyers (QIBs) are offered 49.87%, and Non-Institutional Investors (NIIs/HNIs) are allotted 14.96%.
For the financial year ending 2025, Tata Capital reported a revenue of ₹28,369.87 crores and a net profit (PAT) of ₹3,655.02 crores.
The Basis of Allotment is expected to be finalized on October 9, 2025. The Tata Capital Share listing date on both BSE and NSE is scheduled for October 13, 2025.
The primary object of the issue is the augmentation of the company’s Tier-I capital base to meet its future capital requirements, including onward lending.
As of FY 2025, Tata Capital’s Return on Net Worth (RoNW) stands at 11.2%, and its Basic Earnings Per Share (EPS) is ₹9.3.
Tata Capital is positioned as the third-largest diversified Non-Banking Financial Company (NBFC) in India, with an approximate Gross Loan Book of ₹2.33 Lakh Crore (as of Q1 FY26).
Disclaimer: This content is provided strictly for educational and informational purposes only. The securities or investments mentioned are based on publicly available information and should not be construed as investment advice or recommendations. Investors are advised to consult with their financial advisor before making any investment decisions.
