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The initial public offering (IPO) of Tata Capital Ltd was fully subscribed on the final day of bidding on Wednesday. The Rs 15512-crore public issue received bids for 65.12 crore shares against the 3.33 crore shares on offer 1.95 times overall subscription according to NSE data. The IPO saw strong participation across all investor categories and was the largest public issue of the year. Tata Capitals IPO Subscription The quota for Qualified Institutional Buyers (QIBs) got subscribed 3.42 times while the portion meant for non-institutional investors received 1.98 times subscription. The Retail Individual Investors (RIIs) category received 1.10 times subscription. Tata Capital on Friday collected Rs 4642 crore from 68 domestic and global institutional investors with the anchor book witnessing demand nearly five times higher than the allocated amount. The price range for the offer is Rs 310-326 per share. At the top end of the price band the non-banking financial company (NBFC) commands a valuation of about Rs 1.38 lakh crore. The Initial Public Offering (IPO) comprising a total of 47.58 crore shares includes a fresh issue of 21 crore equity shares and an Offer For Sale (OFS) of 26.58 crore shares. Tata Capitals IPO Review Proceeds from the IPO will be used to strengthen the companys Tier-1 capital base supporting future capital requirements including onward lending. This will mark Tata Groups second public listing in recent years following the debut of Tata Technologies in November 2023. The IPO is being undertaken in line with the Reserve Bank of Indias (RBI) listing mandate for upper-layer NBFCs which requires them to be listed within three years of classification. Tata Capital was designated as an upper-layer NBFC in September 2022. With a portfolio of more than 25 lending products the company caters to a diverse customer base including salaried and self-employed individuals entrepreneurs small businesses SMEs and corporates. In addition to lending Tata Capital distributes third-party products such as insurance and credit cards offers wealth management services and acts as a sponsor and investment manager to private equity funds. (With Inputs From PTI)