Tata Capital IPO Fully Subscribed; Largest Listing of 2025 | Stock Market Today

Market Performance

The Indian stock market saw heightened activity as Tata Capital’s IPO garnered overwhelming response from investors.

By the close of Day 3 on October 8, the IPO was fully subscribed, with bids for 33.48 crore shares against 33.34 crore shares on offer.

This made it the largest IPO of 2025 so far, surpassing all listings since last year, and positioned Tata Capital’s flagship financial services arm firmly in the spotlight for investors tracking the stock market today.

Main News: Strong Demand Across Investor Segments

The Tata Capital IPO attracted strong participation across both institutional and retail investors.

Key subscription details:

• Qualified Institutional Buyers (QIBs): Subscribed 1.19 times, driven by mutual funds and foreign investors
• Non-Institutional Investors (NII): Subscribed 1.11 times
• Retail Investors: Subscribed 0.84 times
• Employee Quota: Subscribed 2.33 times

Earlier, the IPO had raised ₹4,642 crore from 135 anchor investors on October 3, including Life Insurance Corporation of India (LIC), Morgan Stanley, Goldman Sachs, Amansa Holdings, and several domestic mutual funds.

Company Details and Offer Structure

Tata Capital is offering 47.58 crore equity shares, which include:

• Fresh Issue: 21 crore shares
• Offer-for-Sale (OFS): 26.58 crore shares by Tata Sons and International Finance Corporation (IFC)

The price band was set at ₹310–₹326 per share, valuing the company at around ₹1.38 lakh crore at the upper end. At this valuation, the stock is priced at roughly 3.4–4.1 times FY25 book value and 32–38 times earnings, comparable with large diversified NBFCs.

Proceeds from the fresh issue will strengthen Tata Capital’s Tier-I capital to back future lending growth, while the OFS proceeds will be received by Tata Sons and IFC.

Next Milestones

The IPO closed for subscription on October 8, with share allotment expected by October 9. The stock is likely to list on the BSE and NSE on October 13, marking a major milestone for Tata Capital’s public market debut.

Summary

The Tata Capital IPO has emerged as a landmark event in 2025, with full subscription on the final day reflecting strong investor confidence. Robust participation across QIBs, retail investors, and employees underscores the company’s appeal in India’s financial services sector.

This listing reinforces Tata Capital’s position as a leading financial services arm, with the IPO proceeds set to enhance its lending capacity and Tier-I capital base, making it one of the most watched events in the stock market today.