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Tata Capital IPO Gets 75% Subscription On Day 2 So Far: Check GMP, Price, Lot Size, Reviews
Tata Capital IPO Gets 75% Subscription On Day 2 So Far: Check GMP, Price, Lot Size, Reviews
Tata Capital IPO GMP Day 2: The much-awaited Tata Capital Ltd Initial Public Offering (IPO) is open for public subscription and will close on Wednesday, October 8. The Rs 15,512-crore IPO is set to be the largest issue of the year.
Tata Capital IPO subscription status was 75% on day 2. The retail portion was subscribed 67%, and the NII portion has been booked at 75%. The Qualified Institutional Buyers (QIBs) portion received 86% bids.
The company has received bids for 24.92 crore shares against 33.34 crore shares on offer, at 17:00 IST, according to data on BSE.
Tata Capital, a leading non-banking financial company (NBFC), has set the price band at Rs 310-Rs 326 per share, valuing the company at around Rs 1.38 lakh crore at the upper end of the band.
The initial public offering of Tata Capital will open for subscription on October 6 and close on October 8, with the anchor book bidding scheduled for October 3. Its share allotment will be finalised on October 9, while the listing will take place on October 13 on both the BSE and the NSE.
The IPO's price band of Rs 310-Rs 326 per share is 55% lower than Tata Capital's current unlisted market price of Rs 735, and well below the Rs 1,075 per share it commanded in June 2025. This steep discount has caused significant losses for investors who bought in the unlisted market, but it makes the IPO more attractive to new investors.
After witnessing downward trend, Tata Capital IPO GMP steadied at Rs 12.5 today. At the prevailing GMP and upper end of the price band, Tata Capital IPO listing price could be Rs 338.5, a premium of 4% over the issue price.
However, analysts caution that the GMP (Grey Market Premium) is volatile and subject to shifts in market sentiment.
The lot size for an application is 46. The minimum amount of investment required by an retail is Rs 14,996 (46 shares), based on the upper price of the IPO. The lot size investment for small NII is 14 lots (644 shares), amounting to Rs 2,09,944, and for big NII, it is 67 lots (3,082 shares), amounting to Rs 10,04,732.
Most brokerage houses have issued “subscribe" ratings on the Tata Capital IPO, citing the company's strong parentage, diversified loan portfolio, and robust financial position.
Aditya Birla Capital – Subscribe for Long Term:
Highlights Tata Capital's brand trust and low cost of funds due to strong domestic and international ratings. Lists rise in delinquencies, high unsecured loans, and asset-liability mismatch as key risks.
Anand Rathi – Subscribe for Long Term:
Notes Tata Capital's diversified portfolio across products, customers, and geographies and increased focus on secured lending to minimise risks.
Canara Bank Securities – Subscribe:
Points out the company's consistent profitability since 2007, strong rebound post-Covid, and competitive positioning in the retail and SME NBFC segments.
LKP – Subscribe:
Praises the company's profitable growth, resilient financial performance, strong governance, and leadership.
Deven Choksey Research – Neutral:
Believes the IPO is “fully valued" compared to peers and notes lower returns versus other NBFCs, despite strong growth potential from its omni-channel presence and Tata brand support.
The IPO is backed by top financial institutions as book-running lead managers, including: Kotak Mahindra Capital, BNP Paribas, Citigroup Global Markets India, HDFC Bank, HSBC Securities & Capital Markets (India), ICICI Securities, IIFL Capital Services, JP Morgan India, SBI Capital Markets, and Axis Capital.
Source: News18
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