TATAINVEST

Shares of Tata Investment Corporation rallied 8 percent to Rs 7,150 per share on June 6 after reports suggested that Tata Capital is likely to receive approval from the Securities and Exchange Board of India (SEBI) for its upcoming initial public offering (IPO) worth nearly Rs 17,200 crore (equivalent to about $2 billion)The rally in Tata Investment Corporation stock comes amid optimism that the Tata Capital IPO could unlock further value for investors and strengthen the group’s financial services presence in public ***** to reports, SEBI has finalised its review process, and an observation letter is expected within the next few weeks, which would officially clear the way for Tata Capital’s IPO. The listing would help the company meet the Reserve Bank of India’s September deadline for publicly listing non-banking financial companies (NBFCs) classified under the ‘upper layer’ framework. The IPO will comprise a fresh issue of equity shares along with an offer for sale (OFS) by existing shareholders. If successful, the IPO will become the largest in India’s financial sector so far and will mark the Tata Group’s second market debut in recent years, following Tata Technologies’ listing in November 2023