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.

India's Tata Capital plans to launch an initial public offering in which the non-bank lender will issue 230 million new shares, while current shareholders will exit through the offer for sale route, it said on Tuesday.

This IPO marks the Tata Group's second public offering in recent years, following the successful listing of Tata Technologies in November 2023.

Shares of Tata Investment Corporation surged by 8.3% after Tata Capital received board approval for its long-awaited IPO. The listing, including 23 crore new shares and an offer-for-sale mechanism, is anticipated to unlock value in Tata Group's financial services portfolio.

Tata Capital's board has approved plans for an IPO to list by September, comprising fresh shares and stake-sale, potentially valued at $1.7 billion. This move complies with RBI's mandate for 'upper-layer' NBFCs.

Tata Capital will be the first Tata Group company to go for an IPO since Tata Technologies in November 2023. On Tuesday, the non-bank lender approved the offer and issuance of Rs 1504 crore rights shares.

Tata Capital, the financial services arm of the $165 billion Tata Group, has announced plans to go public through an initial public offering (IPO).The non-banking financial company (NBFC) will issue 230 million fresh shares,

Tata Investment share price zooms 8 per cent on Tuesday to ₹6,220.75 on National Stock Exchange (NSE) after Tata Capital approved plans for initial public offering (IPO). Tata Capital's IPO will include a fresh issue of shares with a face value of ₹10 each,