Tata Capital IPO to open on October 6 for retail investors. What do the non -listed shares indicate?

Tata Capital’s long-awaited initial public offer (IPO) will finally hit the D-Street on October 6 and the company will issue new shares together with an offer, Reuters reported. The anchorquotum is opened for bidding on 3 October, while the issue will be closed on 8 October.

According to Red Herring Prospectus (UDRHP )’s updated design, the IPO will include new shares up to 21 crore, while existing shareholders will sell a maximum of 26.58 crore shares. With the total offer, more than 47.58 Crore shares will be available for public bidding.

In the OFS, promoter Tata Sons Private Limited 23 Crore shares will discharge, while the investor sells that shareholder International Finance Corporation (IFC) sells more than 3,58 crore shares.

The company will announce the issue price at a later date, but the URHP submitted by Tata Capital suggests that the weighted average acquisition costs per share for Tata Capital RS 34 is for IFC RS 25.

The book Running Lead Managers (BRLMS) for the issue are Kotak Mahindra Capital Company Limited, Axis Capital Limited, BNP Paribas, HDFC Bank Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICIDED, JOIDED, JOIDED, JOIDED, JOIDED, JOIDED, JOIDED, JOIDED, JOIDEDED, LICICIITED, LIMICIDED, JOIDEDED, JOIDEDED, JOIDEDED, JOIDEDED, JOIDEDED, JOIDEDED, JOIDEDEDED Private and SBI Capital Market Limited. The registrar for the issue is MUFG Intime India Private Limited.

The Non -Genotated Tata Capital shares are currently being traded against RS 735 per share according to non -called Zone and Sharescart.com. In the meantime, the wisdom of wealth brings it much lower to RS 650 per share. The IPO size is estimated at RS 17,200 crore. The non -mentioned stock prices have come under pressure under several headwinds, including a weak sentiment in the financial sector, challenges in price discovery within non -specified markets and worries about the vast values ​​of Tata capital. The shares are almost 35% based on a peak of April from RS 1,125 to around RS 735 according to data from Unlistedzone and Sharescart.com despite the strong buzz around it.

Mehta Equities Senior Vice President & Research Analyst Prashanth Tapse attributes the sharp decrease to several factors, including a broader correction in the market, in particular affecting NBFCs, because macro -economic care and investors have caused a center of caution.

Tarun Singh Founder & MD At Highbrow Securities, this sharp correction attributes to the “classic function” of the non -listed market, where lower liquidity makes prices very sensitive to large fluctuations. The previous peak was driven by exuberance and scarcity that has now settled, “he said.

Also read: The not -mentioned shares of Tata Capital decrease 30% of April peak. Check 5 reasons of autumn and prospects

(Disclaimer: recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)