Tata Capital, the financial services arm of Tata Group, is gearing up for a landmark initial public offering (IPO) that could value the company at up to $11 billion. The IPO, expected to raise as much as $2 billion, is set to be India's largest this year. Tata Capital's board recently approved listing up to 230 million shares, along with an offer for sale by existing shareholders. The company also announced a rights issue of ₹1,504 crore. This move aligns with RBI regulations requiring upper-tier NBFCs to go public, positioning Tata Capital for significant growth in India's evolving financial landscape.
Sources: Bloomberg, Economic Times, Moneycontrol