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New Delhi: Tata Capital ’s initial public offering (IPO) has set its price band at Rs 310-326 per share, a move that has come as a disappointment for investors who had earlier bought its shares in the unlisted market at significantly higher prices.

At its peak, Tata Capital’s unlisted stock had traded at around Rs 1,125. Compared to this, the IPO’s upper band of Rs 326 represents a steep 71 per cent erosion in value for those early buyers.

Even at yesterday’s levels, the unlisted share price was still trading at a 56 per cent discount to the IPO band, raising concerns that investors may not even recover their initial investment.

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