SHARES OF TATA group companies post gains on Tuesday after reports suggested that the salt-to-software conglomerate has begun the groundwork to list its financial services arm, Tata Capital, through an initial public offering (IPO) of $2 billion or around ₹17,000 crore.
The IPO is expected to happen before September 2025—the deadline for meeting the upper-layer NBFC guidelines of the Reserve Bank of India (RBI).
The rally in some of these stocks took place on hopes of value unlocking. Tata Investment Corp shares rose 4.2% to close at ₹6,799, off the day's high of ₹7,411. Tata Motors scrip gained 1.9% to ₹736 while shares of Tata Chemicals added 3.2% to close at ₹1,068. All these companies hold stake in Tata Capital.
This story is from the December 25, 2024 edition of Financial Express Ahmedabad.
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This story is from the December 25, 2024 edition of Financial Express Ahmedabad.
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