Tata group
Financial service company Tata Capital may file initial documents for IPO after approval of the merger of Tata Motors Finance from NCLT. Giving this information, sources said that the company is waiting for the final order of NCLT for this. The size of the IPO will be around two billion dollars (Rs 17,000 crore). Sources said that in terms of this size, the company’s valuation will sit around $ 11 billion. Sources said that the final order from NCLT is awaited, which could be found by the end of the current financial year.
The company will release 2.3 crore new shares
The company has not received the response to the e-mail sent about the draft of the documents. Tata Capital has been recognized by the Reserve Bank of India (RBI) as an upper level non-banking financial company (NBFC). The company has already received approval of its board of directors for the IPO. The company will issue 2.3 crore new shares under the IPO. Apart from this, sales offers (offs) will also be brought by some existing shareholders. Apart from IPO, Tata Capital has also announced a plan to raise funds through rights issue to further strengthen its financial position before public listing.
One of the biggest IPOs in the financial sector will be one
If the IPO is successful, it will be one of the largest IPOs in the country’s financial sector. This will be the second IPO of the Tata Group in recent years after the listing of Tata Technologies in November 2023. This step is part of the Reserve Bank of India’s effort to meet the listing needs. According to the order of the Reserve Bank, the upper level NBFC must list the stock markets within three years of getting this recognition. Tata Capital was classified as upper level NBFCs in September 2022. Apart from Tata Capital, HDB Financial Services, owned by another upper level NBFC HDFC Bank, is also preparing to bring IPOs.
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