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  3. Tata Capital targets $20 billion valuation in upcoming IPO

Tata Capital targets $20 billion valuation in upcoming IPO

23 Jul 2025

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Key Takeaways

Tata Capital’s $2 billion IPO ensures regulatory compliance, signals growth, and benefits from Tata Sons' strong capital support and scale.

Tata Capital’s $2 billion IPO ensures regulatory compliance, signals growth, and benefits from Tata Sons' strong capital support and scale.

tata

Tata Capital

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Expert Analysis

Tata Capital targets $20 billion valuation in the upcoming IPO.

Expert Analysis:

  • DRHP Filing and Regulatory Deadline: Tata Capital is likely to file its updated DRHP this week to meet the RBI mandate requiring an IPO by September 2025.

  • Potential Market Position: If the IPO meets its expected valuation, Tata Capital will become India’s fourth-largest non-bank lender after Bajaj Finance, Bajaj Finserv, and Jio Financial Services.

  • Investor Sentiment and Valuation Support: The revised valuation is driven by strong investor sentiment, the recent rights issue by Tata Capital, and successful IPOs in the financial services sector.

  • Peer Benchmark: HDB Financial Services raised $1.5 billion through its IPO and swiftly achieved a post-listing valuation of $7.7 billion.

  • Business Operations: Tata Capital, a Tata Sons subsidiary, is a diversified NBFC offering commercial finance, consumer loans, wealth management, and Tata Cards, serving over 5.2 million customers across 900 branches.

  • Capital Support from Tata Sons: Tata Sons has infused ₹6,000 crore into Tata Capital over six years, including ₹2,000 crore in FY24 and ₹500 crore in FY23.

  • IPO Structure: The IPO will include a fresh issue of 21 crore shares and an offer for sale of 26.6 crore shares, with Tata Sons selling 23 crore shares and IFC selling 3.58 crore shares.

Publisher:Cnbctv18