Tata Capital to Go Public in One of India’s Top IPOs of Year
- IPO could be bigger than upcoming one from LG Electronics
- It’s the latest IPO from the Tata Group after Tata Tech
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Tata Capital Ltd. said it’s planning to go public in what may be one of India’s largest initial public offerings of the year.
The financial unit of the Tata Group plans to sell 230 million new shares in the IPO, and tack on a rights offering for existing shareholders, the company said in an exchange filing Tuesday. Though it didn’t specify the value of the total offering, MoneyControl has reported that Tata Capital was planning to raise at least 150 billion rupees ($1.7 billion) via an IPO.