Last Updated:September 28, 2025, 16:49 IST

Tata Capital IPO opens October 6, 2025, aiming for a Rs 17,200 crore issue and Rs 18 billion valuation. Price band has yet to be finalised, but GMP of unlisted shares in focus.

Tata Capital IPO to open between October 06 and October 08.

Tata Capital IPO GMP: Tata Capital, the non-banking financial arm of the Tata Group, is set to launch its initial public offering (IPO) on Monday, October 06, 2025. The issue size has been pegged at around $2 billion (Rs 17,200 crore), with the company eyeing a valuation of nearly $18 billion. The public issue will be closed for subscription on Wednesday, October 8, 2025.

The price band for the Tata Capital IPO hasn’t been finalized yet, but unlisted shares have begun trading in the gray market.

The proposed issue comprises a total of 47.58 crore shares, including a fresh issue of 21 crore equity shares and an offer for sale (OFS) of 26.58 crore shares.

Tata Sons, which currently holds an 88.6% stake in Tata Capital, will offload about 23 crore shares.

International Finance Corporation (IFC), which owns 1.8%, will sell 3.58 crore shares.

Proceeds from the fresh issue will be used to bolster Tata Capital’s Tier-1 capital base, helping the NBFC meet future capital requirements, including lending operations.

In August, Tata Capital launched a series of institutional roadshows to engage both global and domestic investors. The move follows the shadow bank’s filing of an updated Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on August 4.

Tata Capital IPO GMP

According to investorgain.com, the gray market premium for unlisted shares of Tata Capital is currently Rs 20.5. The gray market is an unauthorized market where a company’s shares trade before their listing.

The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

This IPO comes as part of the Reserve Bank of India’s mandate, which requires all upper-layer NBFCs to be listed within three years of classification. Tata Capital was identified as an upper-layer NBFC in September 2022.

The move mirrors similar listings in the sector. HDB Financial Services went public in June 2025 with a Rs 12,500 crore issue, while Bajaj Housing Finance made a blockbuster debut in September 2024, doubling investors’ money on listing day with a 135% premium.

Tata Capital Business and Financials

Founded in 2007, Tata Capital today serves over 70 lakh customers with a wide portfolio of more than 25 lending products, catering to individuals, SMEs, entrepreneurs and corporates. Apart from lending, it also distributes third-party products like insurance and credit cards, provides wealth management services, and acts as a sponsor and investment manager for private equity funds.

For FY25, Tata Capital reported a profit after tax (PAT) of Rs 3,655 crore, compared to Rs 3,327 crore in the previous year. Its revenue jumped to Rs 28,313 crore in FY25, up from Rs 18,175 crore in FY24.

The IPO is being managed by a strong line-up of book-running lead managers, including Axis Capital, Kotak Mahindra Capital, BNP Paribas, HDFC Bank, HSBC Securities, Citigroup Global Markets, ICICI Securities, IIFL Capital, SBI Capital Markets and J P Morgan India.

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

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The construction of three new towns will begin before the next general election, Labour has pledged.

A taskforce has recommended 12 locations in England for development, with three areas – Tempsford in Bedfordshire, Leeds South Bank, and Crews Hill in north London – identified as the most promising sites.

Housing Secretary Steve Reed is expected to announce the plans in a speech on the opening day of Labour’s annual party conference.

Labour has put housebuilding at the centre of its vision of how to get the economy growing, promising to build 1.5 million new homes by 2029.

Tempsford is home to 600 people and currently has around 300 houses. Its parish council chairman David Sutton said residents had been kept in the dark about the potential plans, including how many new homes could be built.

“The biggest problem we’ve got at the moment is that even today, as an announcement’s being made, we’ve been given no idea whatsoever of the scale of what we’re being asked to live amongst,” he told the PA news agency.

“Nobody’s come to talk to us at all.”

The promise of a “new generation of new towns” was included in Labour’s election manifesto last year.

The 12 proposed developments range from large-scale standalone new communities, to expansions of existing towns and regeneration schemes within cities.

Sites in Cheshire, South Gloucestershire, East Devon, Plymouth and Manchester are among those which have been recommended for development.

The chosen sites will be subject to environmental assessments and consultation, with the government confirming the final locations and funding next spring.

Labour said each new town would have at least 10,000 homes and they could collectively result in 300,000 homes being built across England over the coming decades.

The government has welcomed a recommendation from the New Towns Taskforce that at least 40% of these new homes should be classed as affordable housing.

A New Towns Unit will be tasked with bringing in millions of pounds of public and private sector funding to invest in GP surgeries, schools, green spaces, libraries and transport for the new developments.

The taskforce has recommended new towns are delivered by development corporations, which could have special planning powers to compulsory purchase land, invest in local services, and grant planning permission.

This follows the model of the regeneration of Stratford in east London during and after the 2012 Olympic and Paralympic Games.

Prime Minister Sir Keir Starmer said: “For so many families, homeownership is a distant dream.

“My Labour government will sweep aside the blockers to get homes built, building the next generation of new towns.”

In his speech, the housing secretary will promise to “build baby build”, while “taking lessons from the post-war Labour government housing boom”.

“This party built new towns after the war to meet our promise of homes fit for heroes. Now, with the worst economic inheritance since that war, we will once again build cutting-edge communities to provide homes fit for families of all shapes and sizes,” Reed is expected to say.

After World War Two Clement Attlee’s government planned the first wave of new towns, including in Stevenage, Crawley and Welwyn Garden City, to relocate people from poor or bombed-out housing, with development corporations assigned responsibility for building them.

The announcement comes as Labour members gather in Liverpool for the party’s annual conference.

It will be Reed’s first major speech since he took over from Angela Rayner as housing secretary, after she resigned for failing to pay enough tax on a flat purchase.

It has been a bruising few weeks for Sir Keir, who is facing questions over his leadership and the direction of his party.

With Labour trailing behind Reform UK in the polls, the prime minister has stepped up his attacks on Nigel Farage’s party.

Arriving in Liverpool on Saturday, he warned Reform would “tear this country apart” and said the conference would be an opportunity to set out his alternative to the “toxic divide and decline” offered by the party.