Tata Capital's Low-Key Market Debut: Analyzing the Largest IPO of 2023

Tata Capital Ltd's shares slightly rose after their market debut, increasing over 1% from their issue price. The IPO, the largest this year, saw full subscription, raising Rs 15,512 crore. Proceeds aim to boost the company's capital base to support future growth and align with RBI mandates.

Tata Capital Ltd's shares had a modest opening on their debut, ending over 1% higher than the issue price of Rs 326. Trading began at Rs 330 on both BSE and NSE, indicating a 1.22% increase.

Throughout the trading session, the stock peaked at Rs 332.80 and dipped to Rs 326.15 on the BSE, ultimately closing at Rs 330.40, up by 1.34%. On NSE, it climbed to Rs 333 before settling at Rs 330.50, marking a 1.38% rise.

Tata Capital's IPO, fully subscribed on the last bidding day, is 2023's largest, with a Rs 15,512 crore share sale at Rs 310-326 per share. This aligns with RBI mandates for listing upper-layer NBFCs within three years, strengthening the company's Tier-1 capital for future growth.

(With inputs from agencies.)