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+91
Tata Capital IPO
Mainboard
Open Date
6 Oct 2025
Close Date
8 Oct 2025
Open Date
6 Oct 2025
Close Date
8 Oct 2025
Min Investment
₹ 14,260
Lot Size
46
Issue Size
₹ 15511.87 Cr
Price Range
₹ 310 - ₹ 326
Subscribed
1.94 x
IPO Timeline
IPO Offer Start
6 Oct 2025
IPO Offer Ends
8 Oct 2025
Allotment Finalisation
9 Oct 2025
Refund Initialisation
10 Oct 2025
Non-Institutional Buyers (sHNI)
10 Oct 2025
Listing of Shares
13 Oct 2025
IPO Subscription Details as on 12 Nov 2026, 07:31 PM
Qualified Instituational Buyers (QiB)
3.42 x
Qualified Instituational Buyers (QiB)
3.42 x
Retail
1.08 x
Retail
1.08 x
Employees
2.88 x
Employees
2.88 x
Total
1.94 x
Total
1.94 x
Non-Institutional Buyer (bHNI)
1.9 x
Non-Institutional Buyer (bHNI)
1.9 x
Non-Institutional Buyer (sHNI)
2.13 x
Non-Institutional Buyer (sHNI)
2.13 x
Note: This information is provided for general guidance only. Dates may be subject to change.
About the Company
The company is the flagship financial services company of the Tata group and a subsidiary of Tata Sons Private Limited, the holding company of the Tata group and the Promoter of the company. According to the CRISIL Report, the company is the third largest diversified NBFC in India with Total Gross Loans of ₹2,334.0 billion as at June 30, 2025, and is among the fastest growing large diversified NBFCs in India based on growth in Total Gross Loans. The company operates Lending and Non-lending businesses. In the Lending Business, the company provides loans to Retail, SME and Corporate Customers through a comprehensive suite of 25+ lending products catering to a diverse customer base comprising salaried and self-employed individuals, entrepreneurs, small businesses, small and medium enterprises and corporates. The company's Lending Business comprises three verticals: Retail Finance (61.3% of Total Gross Loans), SME Finance (26.2% of Total Gross Loans), and Corporate Finance (12.5% of Total Gross Loans) as at June 30, 2025. The company's Non-lending Businesses include distribution of third-party products such as insurance and credit cards, providing wealth management services, and acting as a sponsor and investment manager to PE funds. The company operates an omni-channel distribution model that combines a wide branch network of 1,516 branches across 27 States and Union Territories, a robust partner ecosystem, and a strong digital presence. The company has served 7.3 million customers up to June 30, 2025, since commencing lending operations in 2007. The company is registered as an NBFC – Investment and Credit Company with the RBI and has been identified as an Upper Layer NBFC under the Scale Based Regulations. Together with the Material Subsidiary, TCHFL, the company conducts the Lending Business.
Founded In
1991
CEO
Sujit Kumar Varma
Financials of Tata Capital IPO
Total Income
Total Expenses
Total Profit
| Key Performance Indicators | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|
| Operating Revenue | 13,62,885.00 | 18,17,482.00 | 28,31,274.00 |
| Other Income | 864.00 | 2,356.00 | 5,713.00 |
Total Income | 13,63,749.00 | 18,19,838.00 | 28,36,987.00 |
Total Expenses | 9,84,763.00 | 13,79,478.00 | 23,44,873.00 |
| Profit Before Tax | 3,93,656.00 | 4,39,203.00 | 4,91,856.00 |
Total Profit | 2,94,577.00 | 3,32,696.00 | 3,65,502.00 |
All figures are in lakhs (₹)
Utilisation of Proceeds
All figures are in lakhs (₹)
| Purpose | Amount |
|---|---|
| The company proposes to utilize the Net Proceeds from the Fresh Issue towards augmenting the company's Tier-I capital base to meet the company's future capital requirements including onward lending, arising out of the growth of the company's business. The company is an NBFC registered with the RBI and is subject to regulations relating to capital adequacy, which determine the minimum amount of capital the company must hold as a percentage of the risk-weighted assets on the company's portfolio. The company is required to maintain CRAR consisting of Tier I and Tier II capital of at least percent of the company's total risk-weighted assets on an ongoing basis, with a minimum Tier-I capital of percent at any point. As the company continues to grow its loan portfolio and asset base, the company will require additional capital in order to continue to meet applicable capital adequacy ratios with respect to the company's business. The company typically uses its Tier-I Capital towards the company's business and growth, including onward lending, payment of operating expenditure, repayment and/or prepayment of outstanding liabilities and interest thereon as part of the company's business activities, capital expenditure towards technology and other general corporate purposes. The Net Proceeds will be utilized to increase the company's Tier-I Capital base to meet the company's future business requirements which are expected to arise out of growth of the company's business, and to ensure compliance with regulatory requirements on capital adequacy prescribed by the RBI from time to time. | - |
- Flagship financial services company of the Tata group, with a legacy of over 150 years: The company is the flagship financial services company of the Tata group, which is one of India's most distinguished business groups, with a legacy of over 150 years. The company's Promoter, Tata Sons Private Limited, is the holding company of the Tata group. The Tata group comprised companies across 10 verticals such as automotive, technology, steel, financial services, aerospace and defence, and consumer and retail, is a global enterprise headquartered in India, with operations in more than 100 countries across six continents and collectively employed over 1 million employees, as at March 31, 2025. The 'Tata Group' brand was recognised as the most valuable brand in India by Brand Finance in its 2025 report. The company's Promoter has infused equity of ₹89.7 billion since commencement of lending operations in 2007 and holds 88.6% of the Equity Shares.
- Third largest diversified NBFC in India, with the most comprehensive lending product suite: The company is the third largest diversified NBFC in India based on Total Gross Loans of ₹2,334.0 billion as at June 30, 2025, and the most comprehensive amongst large diversified NBFCs in India based on the number of loan product offerings, as at March 31, 2025. The company offers a comprehensive suite of 25+ lending products catering to the financial requirements of a wide range of customers comprising salaried and self-employed individuals, entrepreneurs, small and medium enterprises and corporates. The company's loan offerings to customers comprised a wide range of ticket sizes ranging from ₹10,000 to over ₹1 billion, as at June 30, 2025.
- Omni-channel distribution model, comprising pan-India branch network, partnerships and digital platforms: The company has built an omni-channel distribution network which combines pan-India branch network with an extensive network of external partners and digital platforms. As at June 30, 2025, the company had a pan-India presence through 1,516 branches spanning 1,109 locations across 27 States and Union Territories. The company's branches are supported by an extensive network of external channels comprising over 30,000 DSAs, over 400 OEMs, over 8,000 dealers and over 60 digital sourcing partners. The company's Tata Capital mobile apps were downloaded over 21.9 million times, as at June 30, 2025.
- Prudent risk culture and robust credit underwriting and collections capabilities, resulting in stable asset quality: The company had one of the lowest Gross Stage 3 and Net Stage 3 Loans Ratio, and the third highest PCR among large diversified NBFCs in India as at June 30, 2025. The company's Gross Stage 3 Loans Ratio was 2.1%, Net Stage 3 Loans Ratio was 1.0%, and Provision Coverage Ratio was 53.9% as at June 30, 2025. The company employs over 80 predictive analytical models deployed across collections as at June 30, 2025.
- Digital and analytics at the core of business, driving high quality experience and business outcomes: The company has integrated technology across the entire customer lifecycle for all lending products in three business verticals, including onboarding, underwriting, collections, customer servicing and cross-selling. 97.8% and 97.1% of the company's customers were onboarded through digital platforms in Fiscal 2025 and the three months period ended June 30, 2025, respectively. 98.6% and 98.5% of the company's collections were through digital channels in Fiscal 2025 and the three months period ended June 30, 2025, respectively. The company achieved Digital Service Adoption Rate (excluding erstwhile TMFL) of over 80% both in Fiscal 2025 and during the three months period ended June 30, 2025.
- Highest credit rating with a diverse liability profile: The company is rated 'AAA with stable outlook' from each of CRISIL, ICRA, CARE and India Ratings, and commercial papers are rated 'A1+' by each of CRISIL, ICRA and India Ratings, as at June 30, 2025. This is the highest possible credit rating for NBFCs in India. S&P Global Ratings upgraded the long-term rating from 'BBB-/Positive' to 'BBB/Stable' and the short-term rating from 'A-3' to 'A-2' in August 2025. The company had outstanding borrowings from multiple lenders, of which 21 were commercial banks, including 10 private sector banks as at June 30, 2025. The company had the second largest outstanding debt securities among large diversified NBFCs in India as at March 31, 2025.
- Track record of sustained profitability and growth across economic cycles: The company has been profitable since commencement of lending operations in 2007. The company's Total Gross Loans grew at a CAGR of 37.3% from March 31, 2023 to March 31, 2025. The company's Profit After Tax grew at a CAGR of 10.0% from March 31, 2023 to March 31, 2025. The company's Return On Equity was 12.5% and Return On Assets was 1.8% for the three months period ended June 30, 2025.
- Experienced management backed by a team of dedicated professionals: The company is led by a seasoned management team comprising individuals with extensive experience in the financial services industry, including retail, commercial and corporate lending. The company's management team is guided by Board of Directors comprising eight directors, of which five are independent directors. The company has been certified 'Great Place To Work' for three consecutive years from 2023 to 2025 by 'Great Place To Work�' which is a certification for workplace culture and employee engagement.
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