| Price | Lot Size | Issue Date | Issue Size |
|---|---|---|---|
| ₹310 to ₹326 | 46 | 06th Oct, 2025 –08th Oct, 2025 | ₹15,511.87 Cr |
TATA Capital Ltd
Tata Capital Ltd., the flagship financial services company of the Tata group is 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, Tata Capital is the third-largest diversified NBFC in India, with total gross loans of Rs. 2,334 billion as of June 30, 2025 and is among the fastest-growing large diversified NBFCs, having recorded a CAGR of 37.3% in gross loans between March 31, 2023, and March 31, 2025. Since commencing its lending operations in 2007, the company has served 7.3 million customers up to June 30, 2025 and through its portfolio of over 25 lending products, caters to a diverse customer base comprising salaried and self-employed individuals, entrepreneurs, small businesses, small and medium enterprises, and corporates. Tata Capital operates an omni-channel distribution model that integrates its wide branch network, a robust partner ecosystem, and a strong digital presence to deliver a superior customer experience. Its extensive pan-India distribution network comprises 1,516 branches across 27 States and Union Territories. Its branches are typically staffed with an in-house team handling customer engagement, acquisition, loan processing, documentation, and servicing. The company’s lending business is structured across Retail Finance, SME Finance and Corporate Finance, each focused on distinct customer needs. In addition to its lending business, it has a non-lending business which includes distribution of third-party products such as insurance and credit cards, wealth management services catering to high-net-worth individuals and retail clients, and private equity business, focused on growth themes such as urbanisation, manufacturing, and strategic services, as well as healthcare themes including pharmaceuticals, hospitals, contract research and manufacturing, diagnostic chains, and other healthcare services. Tata Capital has a well-diversified liability base supported by a credit rating of AAA from CRISIL, ICRA, CARE and India Ratings, which is the highest possible credit rating that can be assigned to any NBFC in India.
Objective of the Advance Agrolife Ltd IPO
The net proceeds are proposed to be utilised towards augmentation of the company’s Tier-I capital base to meet its future capital requirements, including onward lending, which are expected to arise out of the growth in the company’s business, and to ensure compliance with regulatory requirements on capital adequacy prescribed by the RBI from time to time.
Rationale To TATA Capital Ltd IPO
Prudent risk culture with robust credit underwriting and collections capabilities, ensuring stable asset quality
Tata Capital’s agile and responsive risk function, which fosters a prudent risk culture across the company, has helped it maintain one of the lowest Gross Stage 3 and Net Stage 3 loan ratios, as well as the third-highest PCR among large diversified NBFCs in India as of June 30, 2025. The company’s robust risk management framework covers a wide range of risks, including credit, operational, market, information security, fraud, and reputational risks. Risk accountability and oversight form an integral part of its governance structure, reinforcing responsible business practices. The framework is further strengthened by its credit underwriting and collections processes. The company’s underwriting team operates independently of the sales function and follows clearly defined credit policies in extending loans. Tata Capital employs a tailored, product-based underwriting approach, using either rule-based models, high-touch methods, or a combination of both. Its rule-based engines leverage advanced models integrated with credit bureau and alternate data sources such as the RBI’s Account Aggregator system, and customer information to generate internal risk profiles. As of June 30, 2025, new-to-credit (NTC) customers (excluding TMFL) represented 3.5% of total gross loans, with more than 90% allocated to secured loans. The company’s collections infrastructure uses a mix of in-house teams and external agencies, which are deployed across pre-delinquency management, early delinquency, and recovery stages. It relies on advanced analytical tools, including over 80 predictive analytical models and Machine Learning (ML)-based models and dashboards, to continuously monitor portfolio performance, manage early warnings, and optimise loan recovery efforts, thereby ensuring timely recovery and minimizing credit losses. A proactive approach to risk management, supported by multiple layers of defence and advanced data analytics capabilities, has enabled Tata Capital to maintain strong asset quality.
Digital and analytics at the core, driving superior experiences and outcomes
With over two decades of operational experience in multimodal logistics services across different verticals, Glottis has developed strong internal intelligence on trade flows and volumes across routes, seasonality impact on volumes and freight across global routes, diverse customer base to enable two-way business with minimum wastage of empty runs for business partners. Glottis offers customized logistics solutions to a wide range of customers and industries across more than 125 countries, supported by a network of eight branch offices as of March 31, 2025. Its focus on quality, providing customised solutions and timely execution of orders has helped . establish and sustain long-term client relationships. Through customer referrals, the company has been able to expand its offerings to new clients in similar industries, further growing its customer base and geographic reach. Owing to its extensive experience, Glottis has executed projects involving the supply chain of critical and sensitive components, including solar panels, solar cells, glass panels, and advanced equipment for manufacturing solar cells, etc. The company has built a track record of executing complex and customised orders, particularly for customers in the renewable energy sector. Additionally, its expertise allows it to gather and study route data for optimisation, enabling cost efficiency for clients while maintaining a scalable and flexible service portfolio.
Valuation of TATA Capital Ltd IPO
Tata Capital Ltd., the flagship financial services company of the Tata Group and a subsidiary of Tata Sons Pvt. Ltd., is classified as an Upper Layer NBFC by the RBI. Since commencing operations in 2007, it has served over 7.3 million customers. With a comprehensive suite of over 25 lending products, the company caters to a broad customer base, including salaried and self-employed individuals, entrepreneurs, small businesses, SMEs, and corporates. Additionally, Tata Capital distributes third-party products such as insurance and credit cards, provides wealth management services, and acts as a sponsor and investment manager for private equity funds. NBFCs have shown strong resilience and have gained importance in India’s financial ecosystem, growing from under Rs. 2 trillion AUM at the turn of the century to Rs. 48 trillion by the end of FY25. Going ahead, NBFC credit growth is projected at 15-17% between FY25 and FY28, supported by demand across retail, MSME, and corporate segments. Backed by the strength of its Tata Group parentage, diversified loan portfolio, robust risk management practices, and pan-India omni-channel presence, Tata Capital is well-positioned to benefit from this growth opportunity. The company’s proactive approach to risk management, with multiple layers of defence and advanced data analytics, has ensured strong asset quality. Tata Capital’s loan book is granular, with ticket sizes ranging from Rs. 10,000 to over Rs. 100 crores, and more than 98% of accounts have a ticket size below Rs. 1 crore. Its AUM grew at a CAGR of ~37.3% during FY23–FY25, reaching Rs. 2,33,363 crores in FY25, highlighting scalability supported by resilient underwriting standards. With ~80% of the book secured and a robust branch network, the company remains well-placed to tap further growth opportunities. The net proceeds from the fresh equity issue will be used to augment Tier-I capital, thereby strengthening the capital adequacy ratio and ensuring a stable leverage position. At the current P/BV multiple of 4.1x based on book value as of FY25, we believe the company is reasonably valued and recommend investors to “SUBSCRIBE” to the issue from a medium- to long-term perspective.
What is the TATA Capital Ltd IPO?
The initial public offer (IPO) of TATA Capital Ltd offers an early investment opportunity in TATA Capital Ltd . A stock market investor can buy TATA Capital Ltd IPO shares by applying in IPO before All TATA Capital Ltd shares get listed at the stock exchanges. An investor could invest in TATA Capital Ltd IPO for short term listing gain or a long term.
How to apply for the TATA Capital Ltd IPO through StoxBox?
To apply for the TATA Capital Ltd IPO through StoxBox one can apply from the website and also from the app. Click here
When will the TATA Capital Ltd IPO open?
TATA Capital Ltd IPO is opening on 06th Oct 2025. Apply Now
What is the lot size of the TATA Capital Ltd IPO?
The Lot Size of TATA Capital Ltd IPO is 46 equity shares. Login to your account now.
When is the TATA Capital Ltd allotment date?
The allotment Date for TATA Capital Ltd IPO is 09th Oct 2025. Login to your account now.
When is the TATA Capital Ltd IPO listing date?
The listing Date for TATA Capital Ltd IPO is 13th Oct 2025. Login to your account now
What is the minimum investment required for the TATA Capital Ltd IPO?
In the Retail segment the minimum investment required is Rs. 14,996. Login to your account now
What is the maximum investment allowed for the TATA Capital Ltd IPO?
In the Retail segment the maximum investment requirement is Rs. 1,94,948. Login to your account now
What are the risks associated with investing in the TATA Capital Ltd IPO?
- Volatility in interest rates affects Tata Capital’s lending and treasury operations, which could cause its earnings and associated key financial metrics to vary. This variation may adversely affect the company’s business, financial condition, results of operations, and cash flows.
- A downgrade in Tata Capital’s credit ratings could increase its existing and future borrowing costs and adversely affect its access to capital and debt markets. This, in turn, may negatively impact its interest margins, business, results of operations, cash flows, and financial condition. Failure to successfully integrate the operations of, or leverage potential operating and cost efficiencies from, the amalgamation of TMFL with TCL, or other acquisitions and investments undertaken by Tata Capital, may prevent the Company from achieving the expected benefits from such transactions.
When will the TATA Capital Ltd IPO shares be credited to my Demat account?
The TATA Capital Ltd IPO be credited to the account on allotment date which is 10th Oct 2025. Login to your account now
Where can I find the TATA Capital Ltd IPO prospectus?
The prospectus of TATA Capital Ltd IPO prospectus can be find on the website of SEBI, NSE and BSE
