Tata Capital gears up for mega IPO, ropes in about 10 investment banks

Tata group financial services firm sets the ball rolling for a $2 bn maiden share sale

Tata Capital, the financial services arm of Tata Sons, has appointed roughly 10 investment banks to manage its initial public offering (IPO), which could be rolled out later this year.

 

SBI Capital Markets, Kotak Mahindra Capital, Axis Capital, JP Morgan, HDFC Bank, Citibank, ICICI Securities, HSBC Securities, IIFL Capital and BNP Paribas are the banks roped in to handle the share sale.

 

Tata Capital did not respond to an email request for comment.

 

“The filing process will take some time, and the issue size is estimated at around $2 billion,” said one banker involved in the transaction. “Timelines remain fluid,