Tata Capital IPO : If you also want to invest in the initial public issue (IPO) in the stock market, then there is good news for you. Another Tata group’s IPO is coming soon. The company’s board has got the green signal to launch this issue. This IPO is of Tata Capital Limited. The board of Tata Capital Limited has approved the list to list the company in the Indian stock market through an IPO. The company shares will be listed on BSE and NSE.
23 crore new shares will be issued
According to the Reuters report, the Tata Capital will issue 23 million new shares, while some existing shareholders will go out through the offer for sale (OFS) route. The marked value of each share will be Rs 10. It is important to note that the preparation process for the company’s shares started in December, in which Kotak Investment Banking played an important role. The Tata Capital Financial Services, designated by RBI as a systematic entity systematically, will have to complete their listing within three years.
company business
It is therefore important because Tata Capital was established in 2007. The company provides a full range ranging from housing to individual loans. Tata Capital rose by 8 percent to Rs 6,220.75 on the National Stock Exchange on Tuesday after getting approval for the IPO scheme.
Major stake of Tata Sons
Following the stake of Tata Sons, the remaining 7% stake in Tata Capital is with various Tata group institutions, selected Tata Group’s selected officers and external institutions and International Finance Corporation at Washington. Other Tata group companies include Tata Capital (2.46%), International Finance Corporation (1.91%) and Employees Welfare Trust (1.16%).
After the merger with Tata Motors Finance (TMFL) of Tata Capital, TMF Holdings (TMFL main investment company) will have a 4.7 percent stake in the unit formed after merger.
