Tata Capital’s Rs 15,512 crore initial public offering closed on October 8 with an overall subscription of 1.95 times. The basis of allotment is being finalised today, October 9.

The IPO was priced in a band of Rs 310 to 326 per share. Qualified institutional buyers subscribed 3.42 times, non-institutional investors 1.98 times and retail investors 1.10 times.

Before the public offer, the company raised Rs 4,642 crore from anchor investors on October 3. LIC emerged as the largest anchor investor in the round.

The issue combined a fresh issue of 21 crore shares with an offer for sale of 26.58 crore shares by Tata Sons and the International Finance Corporation. Proceeds will strengthen the company’s Tier-I capital.

Shares are expected to list on the BSE and NSE on October 13. It is the Tata Group’s second public listing in recent years, after Tata Technologies in 2023.

Analysts called the issue fully priced at 32 times FY25 earnings. They advised long-term investors to subscribe, citing the company’s 37 per cent loan-book growth.