Tata Sons-backed non-banking financial company (NBFC), Tata Capital Ltd, has set a price band of Rs 310 to Rs 326 per equity share for its over Rs 15,000 crore initial public offering (IPO). This primary offering is the largest IPO from the Tata Group to date, and is the largest-ever in the non-banking finance companies (NBFC) segment in the country.

The ‘upper layer’ NBFC’s IPO consists of a combination of fresh issuance and an offer for sale (OFS), amounting to approximately 47.58 crore equity shares of face value of Rs 10 each. The issue will open for subscription on October 6 and close on October 8.

The IPO

At the upper band of the price range, the company aims to raise Rs 15,512 crore through the public offer, implying a valuation of around Rs 1.38 lakh crore.

The company will b

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