Home
Charts
Search
Watchlist
Products
All IPOs
₹326 - 326
Tata Capital Ltd
FinanceIPO
₹326 - 326
We are the flagship financial services company of the Tata group and a subsidiary of Tata Sons Private Limited. Since the commencement of our lending operations in 2007, we have served 7.3 million customers up to June 30, 2025. Our Company is categorized as an Upper Layer NBFC by RBI. Through our comprehensive suite of 25+ lending products, we cater to a diverse customer base comprising salaried and self-employed individuals, entrepreneurs, small businesses, small and medium enterprises and corporates. Additionally, we distribute third-party products viz. insurance and credit cards, offer wealth management, and act as sponsor and investment manager to PE funds.
Lot46Min Invest₹14,996Face Value₹10Issue Size₹15,512 CrFresh Issue₹6,846 CrOffer for Sale₹8,666 CrListing Price₹330CMP₹307
Timeline
6 Oct
Bidding opens
8 Oct
Bidding closes
9 Oct
Allotment
10 Oct
Refund & demat credit
13 Oct
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹15,512 Cr47.58 Cr shares
Fresh Issue₹6,846 Cr
Offer for Sale₹8,666 Cr
Face Value₹10
Lot Size46 shares
ReservationQIB 50% · NII 15% · RETAIL 35%
Application Sizes
Retail₹14,9961-13 lots
sNII₹2,09,944from 14 lots
bNII₹10,04,732from 67 lots
Managers & Registrar
Lead ManagerKotak Mahindra Capital Company Limited
Co-ManagerAxis Capital Limited, BNP Paribas, Citigroup Global Markets India Private Limited, HDFC Bank Limited, HSBC Securities & Capital Markets (I) Pvt Ltd, ICICI Securities Limited, IIFL Capital Services Limited, J.P. Morgan India Private Limited, SBI Capital Markets Limited
RegistrarMUFG Intime India Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrTata Sons Private LimitedPRMTR23,00,00,0007,498.00International Finance CorporationOTH3,58,24,2801,167.87Total26,58,24,2808,665.87
Shareholding
CategoryPre IPOPost IPOPromoter Group95.6%85.37%Public4.4%14.63%
Objects of the Issue
- Augmentation of our capital base to meet our future capital requirements towards onward lending
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| RevenueCr | 13,629 | 18,175 | 28,311 | 31,540 | 32,695 |
| Operating ProfitCr | 4,007 | 4,668 | 5,253 | 7,096 | 7,930 |
| OPM% | 29.4 | 25.7 | 18.6 | 22.5 | 24.3 |
| PBTCr | 3,937 | 4,392 | 4,919 | 6,562 | 7,339 |
| PATCr | 2,946 | 3,327 | 3,655 | 4,891 | 5,478 |
| EPS | 8 | 9 | 9 | 12 | 13 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Equity CapitalCr | 3,507 | 3,703 | 3,762 | 4,217 | - |
| ReservesCr | 13,761 | 19,714 | 23,313 | 40,442 | - |
| BorrowingsCr | 1,13,336 | 1,48,185 | 2,08,415 | 2,35,977 | - |
| Fixed AssetsCr | - | 1,194 | 2,017 | 2,636 | - |
| Total AssetsCr | 1,35,626 | 1,76,694 | 2,48,320 | 2,90,504 | - |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Operating Cash FlowCr | -23,190 | -37,999 | -30,088 | -37,965 | - |
| Investing Cash FlowCr | -2,270 | 5,757 | 175 | 267 | - |
| Financing Cash FlowCr | 26,430 | 35,952 | 29,412 | 31,848 | - |
| Net Cash FlowCr | 970 | 3,711 | -500 | -5,849 | - |
Strengths & Risks
Strengths · as stated in the DRHP
- Flagship financial services company of the Tata Group, with a legacy of over 150 years.
- Third largest diversified NBFC in India, with the most comprehensive lending product suite.
- Omni-channel distribution model, comprising our pan-India branch network, partnerships and digital platforms.
- Prudent risk culture and credit underwriting and collections capabilities, resulting in stable asset quality.
- Digital and analytics at the core of our business, driving high quality experience and business outcomes.
- Highest credit rating with a diverse liability profile.
Strategies · as stated in the DRHP
- Continue our growth trajectory by enhancing our product offerings and strengthening our distribution network.
- Continue to strengthen our risk management framework, credit underwriting and collections infrastructure to maintain high asset quality.
- Continue to leverage technology and data analytics across the lending value chain to enhance efficiency, reduce costs, improve customer experience and manage risks.
- Continue to maintain our credit ratings and a diversified liability mix to optimise our borrowing costs.
- Continue to attract, train and retain talented employees.
- Harness our merger with TMFL to become a full-stack provider of vehicle finance, while leveraging our capabilities towards superior business outcomes.
Risks · as stated in the DRHP
- The company's Gross Stage 3 Loans comprised 2.1%, 1.7%, 1.9%, 1.5% and 1.7% of its Total Gross Loans as at June 30, 2025, June 30, 2024, March 31, 2025, March 31, 2024 and March 31, 2023, respectively. Non-payment or default by its customers may adversely affect the company's business, results of operations, cash flows and financial condition.
- The company's provision coverage ratio was 53.9%, 63.5%, 58.5%, 74.1% and 77.1% as at June 30, 2025, June 30, 2024, March 31, 2025, March 31, 2024 and March 31, 2023, respectively. The company's inability to provide adequate provisioning coverage for non-performing assets may adversely affect its business, results of operations, cash flows and financial condition.
- Unsecured Gross Loans comprised 20.0%, 22.4%, 21.0%, 24.5% and 23.1% of its Total Gross Loans as at June 30, 2025, June 30, 2024, March 31, 2025, March 31, 2024 and March 31, 2023, respectively. Failures to recover such receivables in a timely manner or at all may adversely affect the company's business, results of operations, cash flows and financial condition.
- Changes in the company's loan-mix may adversely affect its financial metrics and asset quality, which could adversely affect the company's business, financial condition, results of operations and cash flows.
- Secured Gross Loans comprised 80.0%, 77.6%, 79.0%, 75.5% and 76.9% of the company's Total Gross Loans as at June 30, 2025, June 30, 2024, March 31, 2025, March 31, 2024 and March 31, 2023, respectively. The company is exposed to potential losses in connection with recovery of the value of security or enforcement of collaterals.
- Retail Finance comprised 61.3%, 64.2%, 62.3%, 58.9% and 56.7% of Total Gross Loans as at June 30, 2025, June 30, 2024, March 31, 2025, March 31, 2024 and March 31, 2023, respectively. Any adverse developments that reduce demand for loans amongst retail customers and/or increase loan default rates amongst retail customers will adversely affect its business, results of operations and prospects.