Tata Capital to file IPO papers after NCLT nod on merger with Tata Motors Fin: Report

Tata Capital is scheduled to submit initial public offers (more than 17,000 rupees) (more than 17,000 rupees) only after obtaining final approval from the National Law Court (NCLT) to integrate Tata Motors financing with the company.

He added that the NCLT decision is expected by the end of the fiscal year 25.

Work today He was unable to verify the development independently.

Tata Capital, classified as a non -banking financial company (NBFC) by the Indian Reserve Bank (RBI), has received the approval of the Board of Directors to move forward in public subscription.

The offer will include 2.3 rupees of stock shares, and includes a new problem and an offer for sale (OFS) by current shareholders, according to disclosure on the stock exchange. In addition to the public subscription, Tata Capital also plans for the issue of rights to enhance its financial position before the list.

If it succeeds, this will be one of the largest public subscriptions in the financial sector in India and the second major appearance in the general market in Tata Group in recent years, after the Tata Technologies menu in November 2023.

Public subscription is compatible with regulatory requirements, as RBI requires that the upper NBFCs must be included within three years of classification. Tata Capital was set as NBFC the upper layer in September 2022.

HDB Financial Services, another HDFC Bank, is also preparing to subscribe to the public subscription and presented its papers in October to collect 12,500 rupees.

The Cyril Amarchand Mangaldas and Kotak Mahindra Capital Investment Bank as Tata Capital. However, the Red Hering Prospectus (DRHP) project will only be presented with SEBI after NCLT integration, according to the PTI report.

During the Tata Motors Q3 profit call, the CFO PB Balaji collection confirmed that the creditors’ meeting of Tata Motors was completed. “Final orders are waiting for NCLT, and we expect to close this by the end of this fiscal year,” he said.

The Competition Committee of India (CCI) approved the proposed integration in September 2023. Tata Capital will be released after merging, stock shares in Tata Motors Finance, giving Tata Motors a 4.7 % stake in the integrated entity.

Tata Capital is primarily owned by Tata Sons, which has a 92.83 % stake in the company.