Tata Capital IPO Live Updates: After months of anticipation, Tata Capital’s ₹15,512-crore IPO, the largest this year, opened for subscription on Monday and will close on Wednesday. The grey market premium (GMP) on the stock remained subdued at around 3% above the issue price when the IPO opened for bidding.. The issue includes a fresh issue of Rs 6,846 crore and an offer-for-sale (OFS) of Rs 8,666 crore.
Tata Capital’s shares are being offered at Rs 310–326 each, valuing the company at up to Rs 1.4 lakh crore ($15.7 billion). If realised, this would make the Tata Group unit worth more than double the market capitalisation of HDB Financial Services Ltd., which went public earlier this year. Shares of the company are expected to list on the BSE and NSE on October 13.
– SOURCE:- ECONOMIC TIMES
