Tata Capital IPO subscribed 39% on Day 1

New Delhi: The initial public offer of non-banking financial company Tata Capital Ltd received 39 per cent subscription on the first day of bidding on Monday. The IPO got bids for 12,86,08,916 shares against 33,34,36,996 shares on offer, according to details available with the NSE.

The quota for Qualified Institutional Buyers (QIBs) got subscribed 52 per cent, while the category for Retail Individual Investors (RIIs) received 35 per cent subscription. The portion meant for non-institutional investors attracted 29 per cent subscription.

Tata Capital on Friday collected Rs 4,642 crore from 68 domestic and global institutional investors, with the anchor book witnessing demand nearly five times higher than the allocated amount. The company’s Rs 15,512 crore public offering will conclude on October 8 and is in a price range of Rs 310-326 per share. At the top end of the band, the non-banking financial company (NBFC) commands a valuation of about Rs 1.38 lakh crore.

The initial public offer (IPO), comprising a total of 47.58 crore shares, includes a fresh issue of 21 crore equity shares and an OFS of 26.58 crore shares. Under the OFS component, Tata Sons will offload 23 crore shares, while the IFC will divest 3.58 crore shares.