Following three days of intense bidding, attention has now turned to the Tata Capital IPO allotment, which is expected to be finalised today. This marks one of the most anticipated listings on Dalal Street this year.
The IPO, open from October 6 to 8, witnessed solid investor interest, with an overall subscription of 1.96 times. Institutional investors (QIBs) led the demand, subscribing 3.42 times their allocated quota. Non-institutional investors (NIIs) subscribed 1.98 times, while the retail investor portion was subscribed 1.10 times.
Meanwhile, Tata Capital’s grey market premium (GMP) has seen a steady decline. From a high of ₹30 during the initial bidding phase, it has dropped to around ₹3. Based on this, the expected listing price is near ₹329—just slightly above the IPO’s upper price band of ₹326. However, it’s worth noting that GMPs are speculative and can change rapidly with market sentiment.
The ₹15,511 crore IPO included a fresh issue of 21 crore shares and an offer for sale (OFS) of 26.58 crore shares by Tata Sons and IFC. Proceeds from the fresh issue will be used to strengthen the company’s capital base and support future funding needs.
