October 13, 2025 : Tata Capital Ltd. has had a muted listing today, after raising as much as $1.75 billion in India’s biggest IPO of 2025.
Shares of Tata Group’s non-banking financial company rose 0.71% over the IPO price of ₹326 to begin trading at ₹328.30 apiece, according to the website of the National Stock Exchange of India on Monday.
Tata Capital IPO
Earlier, the Tata Capital IPO got sold out only on the third day of the share sale, as qualified institutional buyers pushed it over the finish line. Investors bid for 65.19 crore shares as against 33.34 crore shares on offer in the Tata Capital IPO—that equates to a subscription of 1.96 times.
The demand was led by qualified institutional buyers, who picked up 3.42 times shares reserved for them in the IPO. The portions reserved for non-institutional investors was subscribed 1.98 times while retail investors and employees picked up 1.10 and 2.92 times shares earmarked for them.
The Tata Capital IPO was subscribed 50% on the first day and 75% on the second day. The company raised ₹4,642 crore from anchor investors on Friday, 3 October 2025.
At the top end of the price band, Tata Capital shares would trade at about 3.4 times book value, according to SBI Securities. That’s cheaper than listed peers such as Bajaj Finance Ltd. and HDB Financial Services Ltd., according to data compiled by Bloomberg.
Summary :
Despite record-breaking fundraising, Tata Capital’s stock saw a muted market debut, reflecting cautious investor sentiment following India’s largest IPO of 2025 worth thousands of crores.