Tata Capital’s initial public offering ( IPO ) received an overall subscription of 39% on day one, according to data on BSE . The non-bank financial company received bids for 128.61 million shares against the total issue size of 333.43 million shares.

Among the investors, the employee quota was fully subscribed, while qualified institutional buyers booked 52%, retail investors 35% and the non-institutional investors at 29%.

What’s the price range of the IPO?

The IPO is priced in the range of Rs 310-Rs 326 per share, with a minimum lot size of 46 shares. The three-day bidding window closes on Oct 8. The proceeds of the IPO will be used to augment its tier-I capital base to meet the company’s future capital requirements, including onward lending.

Tata Capital closed its anchor book

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