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A mega IPO may soon hit the IPO market. Tata Group has filed documents with SEBI for the IPO of its financial services unit Tata Capital through the confidential pre-filing route. Moneycontrol has given this information quoting sources. According to estimates, this issue can be worth more than Rs 15,000 crore.
Tata Capital is an NBFC and a subsidiary of Tata Sons. According to earlier information, Tata Capital has appointed 10 investment banks as advisors for this mega listing. According to a previous report by Moneycontrol, Kotak Mahindra Capital, Citi, JP Morgan, Axis Capital, ICICI Securities, HSBC Securities, IIFL Capital, BNP Paribas, SBI Capital and HDFC Bank have been roped in. This news, quoted by sources, has not been confirmed yet. Earlier on February 25, the Tata Capital board approved the IPO plan and said it would include an offer for sale of equity shares by existing shareholders along with 23 crore newly issued shares. The company had said that the IPO is dependent on market conditions and necessary approvals. As of March 31, 2024, Tata Sons held 92.83 per cent stake in Tata Capital Limited.
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