Daijiworld Media Network – Mumbai

Mumbai, Oct 4: Tata Capital Ltd. has secured more than Rs 4,641 crore from 135 anchor investors ahead of its highly anticipated initial public offering (IPO) on Friday. The company allotted 14.23 crore shares at Rs 326 each, marking strong pre-IPO demand.

Life Insurance Corporation (LIC) received the largest allocation at 15.08%, amounting to over Rs 700 crore, followed by Amansa Holdings Pvt. Ltd. and Nomura India Investment Fund Mother Fund with 3.77% each. Prominent investors including Morgan Stanley, Goldman Sachs, and Nomura also participated in the anchor allotment. A total of 18 domestic mutual funds applied through 59 schemes, collectively securing 35.55% of the anchor portion.

The IPO aims to raise Rs 15,511 crore through a combination of a fresh issue of 21 crore shares worth Rs 6,846 crore and an offer-for-sale of 26.6 crore shares worth Rs 8,665 crore. Promoter Tata Sons plans to divest up to 23 crore shares, while International Finance Corporation (IFC) will sell 3.6 crore shares through the OFS route. The price band is fixed at Rs 310-326 per share.

The IPO will be open to retail investors with a minimum investment of Rs 14,996 for 46 shares, while small and big institutional investors will need to invest Rs 2.09 lakh and Rs 10.04 lakh respectively.

The allotment is expected on Oct 9, with credit to demat accounts on Oct 10. Listing on BSE and NSE is scheduled for Oct 13. Analysts say the public issue is set to be one of the most closely watched offerings of the year, reflecting Tata Capital’s prominent role as the financial services arm of the Tata Group.