Tata Capital, Tata Sons’ financial services subsidiary, listed in the stock market today at ₹330 per share on NSE and BSE. This is a modest 1.2% premium over its IPO price of ₹326. During trading hours, however, the stock was slightly down at about ₹328, indicating a relatively quiet reception from investors despite the huge expectations around India’s biggest IPO of 2025.
The IPO, in which Tata Sons disposed of a 10.1% holding in Tata Capital, raised about ₹6,716 crore. Institutional investors participated aggressively, outrunning retail buying. Analysts point out that though the IPO was subscribed on the last day, the grey market premium (GMP) showed low intensity, being around 3% just before listing.
Brokerages that follow the stock have provided cautious optimism, with target prices around ₹360. In spite of the muted listing, the robust institutional demand reflects unabated faith in Tata Capital’s growth story and its role in India’s non-banking finance space. Market analysts attribute the bittersweet initial reaction to the giant size of the IPO and conservative mindset among retail investors.
Tata Capital’s IPO has drawn significant attention as a gauge of the Indian financial market in 2025. Analysts are of the opinion that its long-term success will hinge on how well the company can sustain its strong lending growth and broaden its financial product offerings. The company has highlighted innovation and digital lending as drivers of future growth.
In summary, although Tata Capital’s listing fell short of the hype anticipated for India’s biggest IPO of the year, it marks a triumph for the Tata Group and the financial market. The opening market reaction reflects investors’ cautious optimism, but the fundamentals of the company and institutional support indicate a positive long-term trend. Investors are recommended to observe trading behavior in the subsequent weeks to assess continued market confidence.
