In contrast to the 33.34 crore shares of Tata Capital that were up for grabs, investors put bids for 65.12 crore shares during the three-day bidding process. As a result, the total number of subscriptions reached 1.95 times the total number of shares available.
Monday, October 13 is the day when shares of Tata Capital Ltd., the biggest initial public offering (IPO) in India for 2025, will go on sale. The three-day bidding procedure was successful in obtaining full subscription for the ₹15,500 crore offer.
In contrast to the 33.34 crore shares of Tata Capital that were up for grabs, investors put bids for 65.12 crore shares during the three-day bidding process. As a result, the total number of subscriptions reached 1.95 times the total number of shares available.
With the entire subscription amount being 3.42 times the total number of shares available, institutional investors were the ones driving the bidding process. Compared to the 9.49 crore shares set aside for them, Qualified Institutional Bidders (QIBs) wagered on 32.44 crore shares.
In contrast to the 7.11 crore shares set aside for them, non-institutional investors bid for 14.1 crore shares. The retail investor segment was able to witness full subscription, with offers for 18.2 crore shares, at 1.1 times the 16.6 crore shares on offer.
In addition to selling shares worth ₹8,665 crore under the Offer For Sale (OFS) procedure, promoters Tata Sons and International Finance Corporation (IFC) also issued new equity shares worth ₹6,846 crore as part of the Tata Capital IPO.
With the Grey Market Premium (GMP) for Tata Capital ranging from as low as ₹0 to ₹6 per share, reports from the unlisted market suggest a muted listing on Monday.
Note that the actual listing price may differ from these GMP values, and that these are speculative rates.
Together with WeWork India and LG Electronics India, Tata Capital’s initial public offering (IPO) was open. While LG Electronics India’s shares will list on Tuesday, WeWork made its debut on Friday, closing its maiden trading session at a 2.5% loss. With total bids approaching ₹4.5 lakh crore, the IPO became the most bid issue in Indian history.