Tata Capital IPO could be valued at $11 billion, making it India’s largest this year with potential proceeds of $2 billion. The company approved the listing of 230 million shares and a rights issue worth approximately $172 million, amidst a vibrant IPO sector in India.
Tata Capital IPO: Tata Group is aiming for a valuation of up to $11 billion for its financial services division, which may become India’s largest initial public offering this year, said Bloomberg in its recent report.
Tata Capital IPO could potentially generate as much as $2 billion. Discussions are still ongoing, and specifics may shift, the sources indicated, highlighted Bloomberg in its report. Further, Tata representatives did not respond promptly to requests for comments, as clarified by Bloomberg in its latest report.
According to the news report, the board of Tata Capital approved the listing of up to 230 million shares, in addition to an equity offer for sale by current shareholders. It also revealed a rights issue of as much as 15.04 billion rupees (approximately $172 million).
