This Tata Group company preparing to bring an IPO!
After the listing of Tata Tech in november 2023, another Tata Group company has come up with its IPO. Tata capital, the financial services unit of the Tata Group, has submitted documents to SEBI to bring an IPO of Rs 15000 crore. According to media reports, this draft red herring prospectus has been submitted to SEBI in a confidential manner. Moneycontrol quoted sources in its report on Friday, saying that this step has been taken to ensure the security of the company's strategy for the listing of Tata capital as well as sensitive information related to the business.
10 banks selected as advisors
Tata capital is a non-banking financial service (NBFC) and a subsidiary of Tata Sons, which has appointed 10 investment banks as advisors for the listing. These include mahindra BANK' target='_blank' title='kotak mahindra-Latest Updates, Photos, Videos are a click away, CLICK NOW'>kotak mahindra capital, Citi, JP Morgan, Axis capital, ICICI Securities, HSBC Securities, IIFL capital, BNP Paribas, sbi capital and hdfc Bank.
Under this IPO of about Rs 15,000 crore, new shares will be issued and Tata Sons will also sell its stake under the Offer for Sale window. Tata Sons holds 92.83 percent stake in Tata Capital. Along with this, the company has also got approval from the board to issue about 2.3 crore new shares.
Listing is necessary by september 2025
RBI considers Tata Sons and Tata capital as upper layer NBFC, so it is necessary for them to be listed in the stock market by september 2025. Tata capital, a company operating as an NBFC, had a revenue of Rs 18,178 crore in the financial year 2024, which is 34 percent more than last year. The company's loan book has increased by 40 percent to more than Rs 1 lakh crore and the profit has also reached a record high of Rs 3,150 crore. The company's performance was also good in the first half of the financial year 2025. During this period, the company's profit increased by 21 percent to Rs 1,825 crore.
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