Tata Capital's mega IPO closes with nearly 2x bids

THE INITIAL PUBLIC offering (IPO) of non-banking financial company (NBFC) Tata Capital got fully subscribed on the final day of bidding on Wednesday.

- PRESS TRUST OF INDIA

The company’s %15,512 crore share sale received bids for 651.2 million shares against 333.4 million shares on offer, translating into 1.95 times subscription, according to NSE data.

The public offering received full subscription in all investor categories. Tata Capital’s IPO is the largest issue of this year.

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 (Rls) category received 1.10 times subscription.