Tata Sons-backed Tata Capital files for India IPO
The Tata Sons-backed financial services company will issue up to 210 million new shares, while existing shareholders will offload up to 265.8 million shares.
Tata Sons plans to sell up to 230 million shares in the offering, while International Finance Corporation proposes to sell up to 35.8 million shares.
Proceeds from the fresh issue will be used to meet the company's future capital requirements including onward lending.
Kotak Mahindra Capital, BNP Paribas, Citigroup Global Markets are among the bookrunning lead managers of the offering.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
30 minutes ago
- Reuters
CoinDesk owner Bullish prices IPO above range at $37/share
NEW YORK, Aug 13 (Reuters) - Bullish, a cryptocurrency exchange operator that counts billionaire Peter Thiel amongst its backers, priced its U.S. initial public offering above its indicated range at $37 per share, the company said in a statement on Tuesday.
Reuters
30 minutes ago
- Reuters
KFC India operator Devyani reports lower quarterly profit as costs rise
Aug 13 (Reuters) - Devyani International ( opens new tab, which operates Pizza Hut and KFC restaurants in India, reported a fall in first-quarter profit on Wednesday amid sluggish demand for fast food and higher costs. The Yum Brands (YUM.N), opens new tab franchisee posted a net profit of 36.9 million Indian rupees ($420,920.55) for the quarter ended June 30, compared with a profit of 301.06 million rupees a year earlier. ($1 = 87.6650 Indian rupees)
Reuters
2 hours ago
- Reuters
Rupee rides US inflation relief; forward premiums perk up on Fed cut bets
MUMBAI, Aug 13 (Reuters) - The Indian rupee and forward premiums traded higher on Wednesday, lifted by tame headline U.S. inflation data that reinforced bets of a Federal Reserve rate cut next month. The local currency quoted at 87.6750 at 11.00 am IST, compared to 87.7125 on Tuesday. The U.S. consumer price index for July showed limited impact from recent tariffs. That provided a boost to emerging market currencies, with Fed rate cut odds for September climbing to 94%, and markets now pricing in 60 basis points of cuts this year. Based on the details in the CPI report, Goldman Sachs estimates that the U.S. core PCE price index - the Fed's preferred measure of inflation - rose 0.26% in July versus their expectation of 0.31% prior to the report, corresponding to a year-over-year rate of 2.88%. The inflation data has lent the rupee a bit of a reprieve ahead of the crucial Trump-Putin meeting on Friday, a currency trader at a bank said. The relief is unlikely to extend much beyond the current level — at most to 87.50 — with companies hedging more and interbank positioning expected to remain light until the outcome of the meeting is known. The stakes of the meeting, which aims to explore a resolution to the war in Ukraine, are high for the rupee. Market participants expect any resolution to the conflict to have a bearing on additional tariffs that President Trump has imposed on Indian goods in response to New Delhi's continued purchases of Russian oil. Dollar/rupee forward premiums moved higher, with the one-year dollar/rupee implied yield rising 2 bps to 2.09%, supported by the drop in U.S. yields amid Fed rate cut bets.
