Tata Capital debuts at ₹330; to double loan book in 3 yrs

SHARES OF TATA Capital on Monday made a muted market debut and closed over 1% higher against the issue price of ₹326, after the country’s largest initial public offering (IPO) this year raised $15,511 crore amid the ongoing boardroom issues at Tata Group and Tata Sons.

- NESIL STANEY

The stock started trading at ₹330, up 1.22% from the issue price on both the BSE and NSE. During the day, shares hit a high of ₹332.80 and a low of ₹326.15 on the BSE. The stock finally ended at ₹330.40, up 1.34%.

“If the growth rate of our country sustains, our book can double in the next three years,” said Rajiv Sabharwal, managing director & CEO.

Funds from the IPO that added over 2.2 million new shareholders will suffice for over two-and-a-half years, firm’s executives said. The shadow lender faces asset quality risks, said brokers.