Shares of Tata Capital Limited will debut on the Indian stock exchanges today, October 13, 2025, following its initial public offering (IPO) that received a modest response from investors. The listing marks a major milestone for the diversified financial services arm of Tata Sons Pvt Ltd.
Tata Capital IPO listing details
The Tata Capital IPO, which was open for subscription from October 6 to 8, raised ₹15,511.87 crore through a book-building issue at the upper end of the ₹310–₹326 per share price band. The IPO allotment was completed on October 9, and the shares are now set to list on both the BSE and NSE under the ‘A’ Group of Securities.
According to a notice from the BSE, “Trading Members of the Exchange are hereby informed that effective from Monday, October 13, 2025, the equity shares of Tata Capital Limited shall be listed and admitted to dealings on the Exchange in the list of ‘A’ Group of Securities.”
The stock will be part of the Special Pre-open Session (SPOS) today and will begin trading at 10:00 AM.
Grey market signals muted listing
Ahead of the debut, Tata Capital’s grey market premium (GMP) has dropped to ₹6 per share, according to market observers. This indicates that the company’s stock is expected to list at around ₹332 apiece, roughly 2% higher than its issue price of ₹326 per share.
“The Tata Capital IPO GMP today suggests a neutral to flat listing. Investor sentiment remains cautious due to subdued subscription levels and broader market weakness,” analysts said.
Market expert Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said:
“We expect Tata Capital’s IPO listing to be neutral to flat, given the muted demand and overall cautious investor sentiment. While valuations appear reasonable relative to listed peers, the offer did not witness strong traction during the subscription phase, indicating limited listing-day upside potential.”
Subscription and demand trend
As per NSE data, the IPO was subscribed 1.95 times in total, with the retail portion receiving modest participation. The qualified institutional buyer (QIB) category showed relatively stronger interest, reflecting confidence in the Tata Group’s brand strength and financial performance.
Despite the subdued listing expectations, analysts say Tata Capital’s long-term fundamentals remain robust. The company has a diversified business model with strong presence across retail lending, corporate finance, and housing finance, making it well-positioned to benefit from India’s growing financial services sector.
Company background and future outlook
Founded as a wholly owned subsidiary of Tata Sons, Tata Capital has built a wide portfolio in consumer loans, SME financing, wealth management, and infrastructure finance. Its brand credibility and group backing give it a strong edge over several non-banking financial competitors.
“Being part of the Tata Group and maintaining a diversified lending book, Tata Capital remains a compelling long-term play in India’s expanding financial services landscape,” Tapse added.
Kotak Mahindra Capital Co. Ltd. acted as the book-running lead manager, while MUFG Intime India Pvt. Ltd. served as the IPO registrar.
With trading beginning today, all eyes are now on how Tata Capital shares perform in early market sessions amid volatile investor sentiment and mixed signals from the broader equity market.