The board of directors of Tata Capital Ltd. at their meeting held on Tuesday approved a proposal by the company to raise ₹1,504 crore via rights issue of equity shares of face value of ₹10 each of the company to existing equity shareholders of the company. The record date is February 25.
The board has also approved an Initial Public Offering (IPO) of the equity shares of the company with face value of ₹10 each with a fresh issue of up to 23 crore equity shares and an offer for sale of equity shares by certain existing and eligible shareholders of the company, subject to market conditions, receipt of applicable approvals, regulatory clearances and other relevant considerations, the company said in a filing with exchanges.
The company’s IPO is expected to be $1 billion and as per reserve Bank norms the company needs to be listed by September 2025. Once listed this would be the 17th Tata Group company whose shares would be traded on stock exchanges.
Published – February 25, 2025 07:23 pm IST
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