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Tata Capital gets SEBI's approval for its ₹17,200cr IPO
21 Jun 2025

Tata Capital, a subsidiary of Tata Sons, is gearing up for its ₹17,200 crore initial public offering (IPO).

The Securities and Exchange Board of India (SEBI) has approved the non-banking financial company's (NBFC) draft papers for the public issue. This move brings Tata Capital one step closer to its IPO launch.

The upcoming IPO will be among the largest in India's financial sector, and will include a fresh share issue along with an offer for sale by Tata Sons.

Tata Capital expected to file RHP in early July
IPO procedure

Once SEBI approves the confidential draft red herring prospectus (DRHP), companies are required to publicly file an updated draft on the regulator's website.

Tata Capital is expected to file a red herring prospectus (RHP) in early July, as per the Economic Times.

The move comes after its confidential DRHP was filed on April 5.

Unlisted shares have gained 13.5% over 6 months
Financials

Tata Capital's unlisted shares have gained 13.5% over the last six months, trading at around ₹1,050 per share. This gives the company a market capitalization of roughly ₹3.8 lakh crore.

In the March quarter, its consolidated profit after tax jumped 31% to ₹1,000 crore from ₹765 crore in the same quarter last year.

The operational revenue also rose almost 50% to ₹7,478 crore from ₹4,998 crore a year ago.

FY24 numbers highlight strong financial performance
Annual report

For the fiscal year 2023-24, Tata Capital recorded a profit of ₹3,655 crore against ₹3,327 crore in FY23. The total revenue for the year also rose to ₹28,313 crore from ₹18,175 crore. These numbers highlight the company's strong financial performance leading up to its IPO.