IFC Set to Book Multibagger Gains in Tata Capital IPO

The International Finance Corporation (IFC) is set to pocket hefty returns from Tata Capital's upcoming ₹17,000 crore ($2 billion) initial public offering (IPO), as the World Bank Group arm looks to trim its stake in the non-banking finance company (NBFC).

- PRESS TRUST OF INDIA New Delhi, September 14

The International Finance Corporation (IFC) will offload 3.58 crore shares in the offering, exiting part of an early bet on Tata Capital's cleantech business made in 2011, according to the updated draft red herring prospectus (DRHP).