Tata Sons plans to sell up to 23 crore shares in the offering to bring its stake below 75%. International Finance Corporation proposes to sell up to 3.58 crore shares.
The Tata Sons-backed NBFC is yet to announce its price band.Currently, Tata Sons owns an 88.6% stake in the NBFC on a fully diluted basis, while other Tata Group companies own another 7%.
|
Current Shares (lk) |
Current share |
OFS |
% Pre ipo |
% Postpon |
|
Tata Sounds |
35,750.64 |
2,300.00 |
88.6% |
74.2% |
|
TMF Holding |
1,862.25 |
0.00 |
4.6% |
|
|
Tata Investment Corp |
829.37 |
0.00 |
2.1% |
|
|
International Finance Corp |
716.49 |
358.24 |
1.8% |
0.8% |
|
Total Shares |
40,349 |
45,107 |
Proceeds from the fresh issue will be used to meet the company’s future capital requirements including onward lending. Further, a portion of the proceeds from the fresh issue will be used towards meeting offer expenses.
About Tata CapitalTata Capital has a total AUM of ₹2.27 lakh crore, making it the third-largest NBFC in terms of loan book.
It is among the fastest-growing large, diversified NBFCs, with 1,496 branches across India.
Its other businesses include the distribution of third-party products, wealth management services, and private equity.
|
AUM ₹cr |
Loan book |
CAGR FY23-25 |
|
Bajaj |
4,14,830 |
29.7% |
|
Shriram Finance |
2,59,920 |
19.1% |
|
Tata Capital |
2,26,550 |
37.3% |
|
Chola investment |
1,85,450 |
31.6% |
|
AB Capital |
1,26,350 |
25.2% |
In the last six years, Tata Capital has received capital infusion to the tune of ₹6,000 crores, out of which ₹2,000 crore and ₹500 crore was infused during FY24 and FY23, respectively.
The IPO is being driven by a regulatory mandate. In September 2022, the Reserve Bank of India classified Tata Capital as an upper-layer systemically important NBFC, requiring it to go public within three years. That deadline expires this September.
Kotak Mahindra Capital, BNP Paribas, Citigroup Global Markets are among the bookrunning lead managers of the offering.
