Tata Capital's Market Debut: A Cautious Beginning

Tata Capital Ltd's stock fell by over 3% on its second trading day after debuting on the stock market, despite a successful IPO that was oversubscribed. The company, part of the Tata Group, is a leading non-banking financial institution catering to a wide range of clients with various financial services.

Tata Capital Ltd, the non-banking financial arm of the Tata Group, faced a rocky start with its shares plunging over 3% one day after its market debut. The stock wrapped up at Rs 319.75 on the BSE, down from the previous close, despite a well-received IPO.

The stock opened at a muted pace, edging just over 1% above its issue price of Rs 326 on its debut. Tata Capital's IPO stood out as the largest of the year, attracting 1.95 times subscription, with a share sale exceeding Rs 15,512 crore.

Designated an upper-layer NBFC last year, Tata Capital's public listing complies with the RBI's directive for such entities. The firm boasts a diverse array of financial products and services, addressing the needs of both individual and corporate clients.

(With inputs from agencies.)