 "The Tata group's unlisted financial services businesses have reported hefty profits for the year, with Tata Capital, the group's financial services business, reporting a profit of Rs 2,492 crore on revenues of Rs 13,309 crore, as per Tata Sons' annua")
Tata Capital, the non-banking financial company (NBFC) of the Tata Group, on Monday filed an updated draft red herring prospectus (DRHP) with the Securities Exchange Board of India (Sebi) for its mandatory listing on the bourses by September 2025.
The company has already received the market regulator’s go-ahead for the the initial public offering (IPO).
According to the draft papers, the IPO will comprise a total of 475.82 million shares, including a fresh issue of 210 million shares and an offer for sale (OFS) of 265.82 million shares.
Tata Sons, which owns 88.6 per cent in Tata Capital, will offload 230 million shares in the OFS, and International Finance Corporation (IFC) will offload 35.82 million shares. IFC has 1.8 per cent stake in the NBFC.
The NBFC will use the net proceeds from the IPO to augment its Tier–I capital base to meet future capital requirements, including towards onward lending.
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 "The Tata group's unlisted financial services businesses have reported hefty profits for the year, with Tata Capital, the group's financial services business, reporting a profit of Rs 2,492 crore on revenues of Rs 13,309 crore, as per Tata Sons' annua")
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Tata Capital initially filed confidential IPO papers in April and received approval from Sebi last month to proceed. As part of the process, companies are required to submit an updated DRHP and allow time for public feedback before filing the final version.
Tata Capital has been mandated by the Reserve Bank of India (RBI) to list on the bourses by September 2025 since it is an upper layer NBFC.
The Tata Sons-backed NBFC firm earned a net profit of Rs 3,664.66 crore in FY25, compared to Rs 3,150.21 crore in FY24, and Rs 3,029.2 crore in FY23.
The company's revenue from core operations stood at Rs 28,312.74 crore in FY25, while the net worth of the firm stands at Rs 32,587.82 crore as of March 31, 2025.
Kotak Mahindra Capital, Axis Capital, BNP Paribas, Citigroup Global Markets India, HDFC Bank, HSBC Securities and Capital Markets (India), ICICI Securities, IIFL Capital, JP Morgan, and SBI Capital Markets are the book running lead managers of the issue.
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