Tata IPO Massive update, IPO to open from This date, bidding process for anchor investors to begin from…

The book running lead managers for this IPO include Kotak Mahindra Capital, Axis Capital, BNP Paribas, HDFC Bank, HSBC Securities, ICICI Securities, IIFL Capital, JP Morgan India, and SBI Capital Markets.

Tata Capital IPO: Good news for those who were eagerly waiting for the initial public offering (IPO) of Tata Group’s company, Tata Capital. According to reports, the IPO will open on October 6 and close on October 8. It is important to note that the bidding process for anchor investors will begin on October 3. However, the company has not announced the issue price yet. The IPO is estimated to be worth Rs 17,200 crore.

The book running lead managers for this IPO include Kotak Mahindra Capital, Axis Capital, BNP Paribas, HDFC Bank, HSBC Securities, ICICI Securities, IIFL Capital, JP Morgan India, and SBI Capital Markets.

Here are some of the key details:

• 21 crore new shares will be issued in the IPO, according to the company’s updated draft red herring prospectus (UDRHP).
• 26.58 crore shares will be sold through an Offer for Sale (OFS).
• This means a total of 47.58 crore shares will be available in the market.
• Under the OFS, the promoter Tata Sons Private Limited will sell its 23 crore stake, while investor International Finance Corporation (IFC) is planning to sell 3.58 crore shares.

Pressure on Unlisted Shares

Tata Capital’s unlisted shares are facing pressure ahead of the IPO. According to UnlistedZone and SharesCart.com, these shares are currently trading at around Rs 735 per share, whereas in April, they had reached a level of Rs 1,125 per share. This indicates a decline of approximately 35 percent. Meanwhile, Wealth Wisdom reports an even lower price of Rs 650.