Tata Investment Corporation Share prices have witnessed a big jump of 10% in intra-day trading. This is because the NBFC arm of Tata Group Tata Capital has announced its plan for IPO Launch. Investors are ready to grab this opportunity as this is the second time Tata Group has been doing an IPO in the past two decades.
Tata Investment Share Price in Today’s Market
Currently, Tata Investment Share is trading for Rs 6092.10 which is 5.78T up from the opening. Yesterday shares closed at Rs 5755.30 and today it opened at Rs 5850. The current market capitalization of the company is standing at Rs 30911 Crore. The upper circuit limit is set to Rs 6906.35 and the lower circuit limit is at Rs 4604.25.
Tata Capital’s IPO Plan
As per the report, Tata Capital IPO will be issuing 23 Crore shares and there will be an offer for sale for existing shareholders. The company has approved a rights issue worth Rs 1504 Crore for existing investors. The record date is set for 25th February. This movie is to make sure the company is in compliance with all the RBI regulations, which mandate listing by September this year.
Impact on Tata Investment Shares
Tata Investment Corporation currently holds a 2% stake in Tata Capital. The shares have seen the effect of the IPO announcement already. Market sentiments look positive after this strategic decision. Although the share price has fallen by 12% in the last year. Tata Investment stocks have shown impressive growth of 588% in the past 5 years.
How the Market Reacted to Tata Capital’s IPO Plans
As Tata Capital gets ready for its IPO, it focuses on finalizing the offer for sale details and securing the necessary regulatory approvals. Once the IPO issue is successful it will strengthen investor confidence in the financial sector. Also, Tata Capital is ready to become a significant player in the finance segment of the Indian Stock Market.
