#TataCapitalIPO #LIC #AnchorInvestors #IPO #StockMarket #TataGroup #NBFC #IndianStockMarket #FinanceNews
Mumbai: The Initial Public Offering (IPO) of Tata Capital, the financial services arm of the Tata Group, has garnered exceptional interest from institutional investors, with state-run Life Insurance Corporation (LIC) emerging as the largest anchor investor.
Ahead of its public subscription opening on October 6, the non-banking financial company (NBFC) successfully raised a staggering Rs 4,642 crore from anchor investors. Tata Capital allotted 14.24 crore equity shares at the upper end of the price band, Rs 326 per share, to 135 funds.
LIC’s Substantial Commitment
LIC led the pack of marquee institutional participants, bagging a significant 15.08 percent of the total anchor portion, translating to an investment worth approximately Rs 700 crore.
Global and Domestic Titans Participate
The anchor book saw robust participation from a mix of top global and domestic financial institutions, underscoring strong confidence in the NBFC.
Other prominent investors in the anchor book include:
- Morgan Stanley Investment Funds Asia Opportunity Fund: 3.15%
- Amansa Holdings Private Ltd: 3.77%
- Nomura India Investment Fund Mother Fund: 3.77%
- Nippon Life India Trustee Ltd -A/C Nippon India Large Cap Fund: 2.69%
- Motilal Oswal Large Cap Fund: 2.16%
- HDFC Trustee Company LTD. A/C HDFC Large Cap Fund: 1.89%
- DSP ELSS Tax Saver Fund: 1.52%
- ICICI Prudential Balanced Advantage Fund: 1.26%
- Goldman Sachs Funds- Goldman Sachs India Equity Portfolio: 1.12%
- Government Pension Fund Global
IPO Details
The colossal Rs 15,512 crore IPO—the largest from the Tata Group and the biggest-ever for an NBFC in India—is set to open for public subscription from October 6 to October 8. The price band for the issue is fixed at Rs 310 to Rs 326 per equity share.
The offering consists of a fresh issue of 21 crore equity shares and an Offer for Sale (OFS) of 26.58 crore shares. At the top of the band, the company is valued at about Rs 1.38 lakh crore. The shares are expected to debut on the stock exchanges on October 13.
The fresh capital raised will primarily be used to augment the company’s Tier-I capital base to support future business growth and lending activities.
#TataCapitalIPO #LIC #AnchorInvestors #IPO #StockMarket #TataGroup #NBFC #IndianStockMarket #FinanceNews
