Latest news with #KotakMahindraCapital
Entrepreneur
6 days ago
- Business
- Entrepreneur
Tata Capital Files for IPO to Raise Funds Amid Regulatory Push
Tata Sons-backed Tata Capital has filed draft papers with the Securities and Exchange Board of India (SEBI) for its highly anticipated initial public offering (IPO), marking a significant step towards meeting regulatory obligations and future growth. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Tata Sons-backed Tata Capital has filed draft papers with the Securities and Exchange Board of India (SEBI) for its highly anticipated initial public offering (IPO), marking a significant step towards meeting regulatory obligations and future growth. The total offer size for the IPO is pegged at 475.8 million equity shares, comprising a fresh issue of 210 million shares and an offer-for-sale (OFS) of 265.8 million shares by existing shareholders. In the OFS component, Tata Sons, the principal investment holding company of the Tata Group, plans to offload up to 230 million shares, while International Finance Corporation (IFC) will sell up to 35.8 million shares. Proceeds from the fresh issue will be utilized to support Tata Capital's future capital requirements, including onward lending, in line with its core financial services operations. The offering is being managed by a consortium of investment banks, including Kotak Mahindra Capital, BNP Paribas, and Citigroup Global Markets. Tata Capital had initially filed confidential IPO documents in April 2024, receiving SEBI's nod last month. As part of the regulatory process, the company has now submitted its updated Draft Red Herring Prospectus (DRHP), initiating the next phase of public review and feedback before finalizing the offer. The Reserve Bank of India (RBI) mandates that all upper-layer non-banking financial institutions (NBFCs) must get listed before completing three years after classification. Tata's financial arm was classified as an upper-layer NBFC in 2022. The IPO aligns with regulatory requirements, as the RBI mandates that upper-layer NBFCs must list within three years of their classification. Tata Capital was designated as an upper-layer NBFC in September 2022. In January 2024, Tata Capital Financial Services merged with Tata Capital, further streamlining operations ahead of the IPO and fulfilling key compliance obligations. The IPO will not only help the company bolster its capital base but also mark a pivotal moment for the Tata Group as it aligns its financial services arm with the RBI's vision of greater transparency and governance in the NBFC sector.
Reuters
7 days ago
- Business
- Reuters
Tata Sons-backed Tata Capital files for India IPO
Aug 4 (Reuters) - India's Tata Capital has filed for an initial public offering, draft papers showed on Monday. 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.
Yahoo
22-07-2025
- Business
- Yahoo
Top Arranger Says India IPOs to Raise $30 Billion Over 12 Months
(Bloomberg) -- The boom in Indian initial public offerings is expected to continue, with companies poised to raise over $30 billion in the next 12 months, according to Kotak Mahindra Capital Co. Why the Federal Reserve's Building Renovation Costs $2.5 Billion Milan Corruption Probe Casts Shadow Over Property Boom Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom How San Jose's Mayor Is Working to Build an AI Capital Around 150 firms are planning to tap the equity market, V Jayasankar, head of investment banking at Kotak, the country's top arranger for equity deals this year, said in an interview. 'The pace of IPO filings is robust, and it reflects the deepening confidence of issuers in India's capital markets,' he said. India's IPO market had a slow start to the year after companies raised a record $21 billion in 2024. But activity has picked up in recent months. A number of billion-dollar deals are on their way, with this month's solid debut by HDB Financial Services Ltd. also boosting sentiment. The shadow lender's $1.5 billion IPO was India's biggest in 2025. Overall IPO proceeds for this year stand at $7 billion, and Jefferies Financial Group expects up to $18 billion to be raised in the second half. 'It's a reflection of our large, fast-growing economy,' Jayasankar said. 'Even if GDP isn't expanding at 8%, a 6%-plus growth rate still creates significant opportunities for businesses,' he said. Among firms gearing up to enter the market, Tata Capital Ltd. is planning to raise about $2 billion. The Indian unit of South Korea's LG Electronics Inc. is also looking to raise as much as $1.7 billion. While Jayasankar counted India's resilience to external geopolitical uncertainties as well as political stability among factors that should continue to underpin the bullish market sentiment, he also highlighted potential headwinds. A weak secondary market, declining domestic inflows, or a shift in foreign investor interest toward more attractively valued markets like China could challenge the IPO momentum, he said. Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All What the Tough Job Market for New College Grads Says About the Economy ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
22-07-2025
- Business
- Bloomberg
Top Arranger Says India IPOs to Raise $30 Billion Over 12 Months
The boom in Indian initial public offerings is expected to continue, with companies poised to raise over $30 billion in the next 12 months, according to Kotak Mahindra Capital Co. Around 150 firms are planning to tap the equity market, V Jayasankar, head of investment banking at Kotak, the country's top arranger for equity deals this year, said in an interview. 'The pace of IPO filings is robust, and it reflects the deepening confidence of issuers in India's capital markets,' he said.
Bloomberg
15-07-2025
- Business
- Bloomberg
Executive Centre Is Said to Seek $300 Million for India IPO
The Executive Centre is planning an initial public offering in Mumbai that may raise 26 billion rupees ($303 million), according to people familiar with the matter, to capitalize on the rising demand for workspace in the country. The flexible workspace manager has hired Kotak Mahindra Capital Co. and ICICI Securities Ltd. to arrange the listing, according to the people, who asked not to be named because the information is private. The company is planning to file preliminary documentation — known as the draft red herring prospectus — soon, according to the people.
