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Tata Capital plans to launch a USD 2 billion (INR 17,000 crore) IPO, pending final NCLT approval for its merger with Tata Motors Finance. The IPO could value the firm at USD 11 billion, making it one of the largest in the financial sector. As an upper-layer NBFC under RBI regulations, Tata Capital has expanded across retail loans, wealth management, and infrastructure financing. The merger aims to streamline Tata Group's financial services, boosting efficiency. Following Tata Technologies' successful 2023 IPO, this listing is expected to attract strong investor interest, reinforcing Tata's financial sector presence.
Tata Capital is expected to file preliminary documents with the Securities and Exchange Board of India (SEBI) for its highly anticipated initial public offering (IPO), aiming to raise USD 2 billion (over INR 17,000 crore). However, the move is contingent on receiving final approval from the National Company Law Tribunal (NCLT) for its merger with Tata Motors Finance, according to sources. With this IPO size, the financial services firm is projected to be valued at approximately USD 11 billion. Advertisement
Sources indicated that the NCLT's final order on the merger is still awaited and is expected to be finalized by the end of the current financial year (FY25). Meanwhile, Tata Capital, classified as an upper-layer non-banking financial company (NBFC) by the Reserve Bank of India (RBI), has already secured board approval for the public listing.
Tata Capital has seen steady growth in the financial services sector, offering a diverse range of products, including retail loans, wealth management, and infrastructure financing. Its classification as an upper-layer NBFC by the RBI in 2022 placed it under stricter regulatory oversight, similar to banks, highlighting its increasing significance in India's financial landscape.
The merger with Tata Motors Finance aligns with the Tata Group's broader strategy to consolidate its financial services businesses under a single entity. Tata Motors Finance, a key vehicle financing arm of Tata Motors, has played a crucial role in supporting commercial and passenger vehicle buyers. Integrating its operations with Tata Capital is expected to enhance efficiency and streamline operations.
Tata Capital's IPO is set to be one of the largest in the financial services sector. The move aligns with Tata Group's ongoing efforts to streamline its financial businesses, strengthening Tata Capital's position in the industry. Given Tata Technologies' successful IPO in 2023, Tata Capital's listing is expected to attract significant investor attention, further cementing the Tata Group's influence in India's financial landscape.
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