Tata Capital Gets SEBI Nod for Rs 17,200 Crore IPO; Public Filing Likely in July

Tata Capital, the financial services arm of Tata Sons, has secured regulatory approval from the Securities and Exchange Board of India (SEBI) for its highly anticipated initial public offering (IPO) worth Rs 17,200 crore, setting the stage for one of the largest market debuts of the year. The public filing of its Red Herring Prospectus (RHP) is expected as early as July, according to media reports.

The float will combine a fresh equity issuance and an Offer for Sale (OFS) by Tata Sons, thus preserving its majority 93% ownership in the NBFC.

Industry observers reckon that this IPO will mark a major milestone for Tata Capital, as it gears up for a market listing under the Reserve Bank of India’s mandate for top-tier non-banking financial companies (NBFCs) to go public by September 2025.

Tata Group is targeting a valuation of up to $11 billion for its financial services division, Tata Capital, which may become India's largest IPO this year, Bloomberg in its recent report.

Also Read: IPO-Bound Tata Capital Q4 Results: NBFC's Profit Zooms 31% To Rs 1,000 Crore | Republic World

Tata Capital IPO details

The IPO is expected to include a combination of fresh equity issuance and an offer for sale (OFS) by promoter Tata Sons. This structure allows Tata Capital to raise growth capital while giving Tata Sons the opportunity to pare down its stake slightly.

The approval follows Tata Capital’s confidential draft filing with SEBI in April. Now, with the green light secured, the company is likely to file its official RHP and launch its roadshow in the coming weeks.

Tata Capital's financial performance

Tata Capital’s IPO ambitions are on the back of a robust financial performance. In the quarter ended March 2025, the company posted a 31% jump in consolidated net profit to Rs 1,000 crore, while revenue surged to Rs 7,478 crore — up from Rs 4,998 crore a year earlier.

For the full fiscal year, net profit rose to Rs 3,655 crore from Rs 3,327 crore in FY24, and revenue grew significantly to Rs 28,313 crore, compared to Rs 18,175 crore the previous year.