Tata Capital IPO Day 2 LIVE: 40% of the issue has been booked thus far, and GMP predicts 4% listing gains

Tata Capital IPO Day 2 LIVE: Following 39% bids on its first day of opening yesterday, October 7, Tata Capital's ₹15,512 crore IPO went into its second day of bidding. Subscriptions for the Tata Group company's public offer are being accepted through October 8. The pricing range for the Tata Capital IPO is ₹310–₹326 per share.

The issuance consists of an OFS of 26.58 crore shares and a new issue of 21 crore equity shares. The International Finance Corporation (IFC) would sell 3.58 crore shares under the OFS, while Tata Sons will sell 23 crore shares. At the moment, IFC owns 1.8% of Tata Capital, while Tata Sons controls 88.6%.

The company's Tier-1 capital basis will be strengthened with the proceeds from the new offering, enabling further lending and expansion. Additionally, the IPO complies with the Reserve Bank of India's directive that "upper-layer" NBFCs list within three years after being classified.