Tata Capital Ltd is planning to go for an initial public offering (IPO) that will include a mix of new shares and an offer of sale by some existing shareholders.
The non-banking financial services firm will sell 230 million new shares, it said in an exchange filing on Tuesday. The firm also approved issuance of rights shares worth ₹1,504 crore ($173 million), it added.
- Also read: Tata Capital Board to meet on Tuesday to consider rights issue proposal
This will be the latest company to list from the $165 billion conglomerate after Tata Technologies Ltd. that rolled out its IPO in 2023. The group makes the Jaguar and Land Rover luxury cars, operates the Taj chain of hotels as well as owns software giant, Tata Consultancy Services Ltd.
More stories like this are available on bloomberg.com