TATACAP

MUMBAI, Feb 10 (Reuters) - India's Tata Capital Housing Finance TATASG.UL plans to raise up to 7.5 billion rupees ($82.69 million), including a greenshoe option of 3.5 billion rupees, through the sale of bonds maturing in two years, three bankers said on Tuesday.

The company has invited coupon and commitment bids for the issue on Wednesday, they said.

Tata Capital did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on February 10:

* Size includes base plus greenshoe for some issues

($1 = 90.6980 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)

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MUMBAI, Feb 9 (Reuters) - India's Tata Capital TATC.NS plans to raise up to 15 billion rupees ($165.6 million), including a greenshoe option of 12.5 billion rupees, through the reissue of 7.95% 2028 bonds, three bankers said on Monday.

It will pay an annual coupon of 7.95% and has invited commitment bids for the issue later in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on February 9:

*Size includes base plus greenshoe for some issues

($1 = 90.5600 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)

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** Tata Capital on Mon posted 20.4% rise in Q3 consol profit to 12.57 billion rupees ($138.1 million)

** Shares rose as much as 2% to hit record high on Tues; stock reversed course and was last down 0.4% at 358.9 rupees

RECORD Q3 AUM ADD; ASSET QUALITY IMPROVES; FY28 ON TRACK

** JM Financial ("Add"; PT: 385 rupees) says company recorded its highest-ever quarterly AUM addition of 168 billion rupees in Q3, largely driven by festive-led demand and GST rate cuts; expects average AUM growth of ~21-22% over FY27E/28E

** Ambit Capital ("Buy"; PT: 420 rupees) says management commentary indicates further improvement in asset quality in unsecured loans as well as CV finance; expects credit costs to decline from 1.3% in FY26 to 1.0-1.1% in FY27/28E,

** Emkay Global ("Add"; increases PT to 380 rupees) notes co continues to recalibrate its asset mix toward higher-yield and granular segments, such as unsecured retail, SME, affordable housing, LAP, and used CVs, while remaining disciplined on risk and margins; says further reinforces expectation that co will achieve FY26 guidance and remain on track for reaching FY28 profitability targets

($1 = 91.0213 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

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Jan 19 (Reuters) - Tata Capital Ltd TATC.NS:

• Q3 CONSOL NET PROFIT 12.57 BILLION RUPEES

• Q3 CONSOL INTEREST INCOME 72.42 BILLION RUPEES

Source text: [ID:]

Further company coverage: TATC.NS

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Adds context in paragraph 5, minor changes throughout

By Vivek Kumar M

Nov 12 (Reuters) - Shares of Billionbrains Garage Ventures BILO.NS, parent of online brokerage Groww, jumped 24% in their market debut on Wednesday, valuing the firm at 761 billion rupees ($8.6 billion) as investors bet on India's retail investing boom after a run of weak listings.

The stock opened at 112 rupees on the National Stock Exchange (NSE) and climbed to 124 rupees, well above its 100-rupee issue price in a $754 million IPO.

The debut valued Groww above listed peers Motilal Oswal Financial Services MOFS.NS and Angel One ANGO.NS, and offered relief to IPO investors after subdued market entries from Lenskart Solutions LENS.NS, Orkla India ORKL.NS, and Studds Accessories STUS.NS earlier this month.

"Groww represents a strong long-term structural story and can act as a proxy for India's expanding capital market participation," said Prashanth Tapse, senior vice-president of research at Mehta Equities.

India's NSE has been adding about 10 million registered investors every six to seven months since March 2021, taking its total investor base to 120 million as of September, the country's largest bourse said.

Groww's listing comes amid a flurry of IPOs in India, where over 300 companies have raised $16.55 billion so far in 2025, according to LSEG data. The country’s primary market is on track to surpass last year's record $20.5 billion, led by big-ticket listings from Tata Capital TATC.NS, LG Electronics India LGEL.NS, and HDB Financial Services HDBF.NS.

Founded in 2016, Groww is among the country's largest online investment platforms, offering trading in equities, mutual funds, and fixed-income products.

Still, some analysts warned that much of the near-term optimism may already be priced in. "The current valuations seem to fully capture the short-term growth prospects, and investors should watch out for a couple of quarterly earnings before making further investment decisions," said Kranthi Bathini, director of equity strategy at WealthMills Securities.

($1 = 87.8950 Indian rupees)

(Reporting by Vivek Kumar M in Bengaluru; Editing by Rashmi Aich and Nivedita Bhattacharjee)

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Adds details paragraph 3 onwards

Oct 28 (Reuters) - India's Tata Capital TATC.NS reported a rise in second-quarter profit on Tuesday, in its first earnings since going public, led by steady loan growth.

The non-bank lender's consolidated profit rose to 10.97 billion rupees ($124.8 million), from 10.76 billion rupees a year earlier.

Credit demand in India recovered during the July–to-September quarter following several quarters of muted growth, driven by a revival in consumption and a gradual increase in corporate borrowing.

Loan growth is expected to remain strong in the second half of the fiscal year, buoyed by recent tax relief measures.

Tata Capital, which trails market leader Bajaj Finance BJFN.NS and Shriram Finance SHMF.NS by market capitalisation, said revenue from loans it gave to retail and corporate borrowers climbed 12.3% to 75.18 billion rupees.

Retail loans account for 64% of the company's total assets.

The lender's interest income rose nearly 12% to 69.80 billion rupees.

Tata Capital made a subdued trading debut earlier this month and was valued at 1.4 trillion rupees, after getting bids worth $2.9 billion for its IPO, the country's biggest so far this year.

The company's shares have been flat since listing.

($1 = 87.8950 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Janane Venkatraman and Mrigank Dhaniwala)

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Updates stock price in paragraph 2, adds details throughout

By Vivek Kumar M

Oct 17 (Reuters) - India's Canara HSBC Life Insurance CANR.NS made a muted debut on the bourses on Friday, as unappealing pricing and a crowded IPO market clouded the insurer's prospects.

Its stock was trading at 108.9 rupees, as of 10:50 a.m. IST, up 2.7% from its issue and listing price of 106 rupees, yielding the insurer a valuation of 105.15 billion rupees ($1.20 billion).

Peers SBI Life Insurance SBIL.NS and HDFC Life Insurance HDFL.NS are valued around $21 billion and $18 billion, respectively.

Canara HSBC Life Insurance, which is a joint venture between Canara Bank and HSBC Insurance (Asia-Pacific) Holdings, struggled to garner bids from retail and non-institutional investors earlier this week.

Retail investors subscribed 42% of their quota, while high-net-worth individuals subscribed a third of their shares in the $283 million IPO.

Thanks to qualified institutional buyers, the issue was subscribed 2.29 times, which was still lower than most other IPOs that opened in the last couple of weeks.

For instance, another Canara Bank-promoted entity, Canara Robeco Asset Management CANE.NS, received bids worth nearly 10-fold and closed 13% higher in its debut on Thursday.

Choice Broking said the insurer's valuation appeared to be fully priced, with price-to-enterprise value multiple, a stock valuation metric, of 1.6x, while industry averaged 2.4x.

"High dependence on bancassurance (where banks sell insurance) and relatively lower VNB (value of new business) margins compared to peers is expected to keep valuation multiples at a discount to peers," ICICI Direct said.

The insurer got 87% of its new business premium in fiscal year 2024-25 through bancassurance, with Canara Bank contributing 70.6% of this.

The listing caps a busy week for the Indian IPO market, which saw five stock debuts, including a blockbuster listing from LG Electronics India LGEL.NS and a muted start from the country's largest IPO of the year, Tata Capital TATC.NS. ($1 = 87.8387 Indian rupees)

(Reporting by Vivek Kumar M; Editing by Sumana Nandy and Harikrishnan Nair)

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Oct 16 (Reuters) - Indian asset manager Canara Robeco's CANE.NS shares listed at a premium of 5.4% to their issue price in their pre-open trading debut on the National Stock Exchange on Thursday.

The Mumbai-based firm's stock opened at 280.25 rupees, above the 266 rupee issue price.

Its IPO was subscribed nearly 10-fold earlier this week, led by a heavy demand from qualified institutional buyers, who subscribed 26-fold their reserved quota. In comparison, retail investors' portion was subscribed two-fold.

Canara Robeco Asset Management is the first public debut by an Indian asset manager this year, adding to the growing list of financial services firms tapping the capital markets. ICICI Prudential AMC IICL.NS is expected to list soon.

(Reporting by Yagnoseni Das in Bengaluru; Editing by Harikrishnan Nair)

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BENGALURU, Oct 14 (Reuters) - LG Electronics India LGEL.NS made a stellar stock market debut on Tuesday, listing at a premium of 50% to its issue price of 1,140 rupees per share.

This is the best listing for a billion-dollar Indian initial public offering since Eternal ETEA.NS, the parent company of food delivery and restaurant-listing platform Zomato, debuted in 2021.

Here's a look at how India's other billion-dollar IPOs have done this decade:

SBI CARDS AND PAYMENT SERVICES (MARCH 2020)

The credit card arm SBIC.NS of India's largest lender, State Bank of India SBI.NS, slid about 13% in market debut, as the COVID-19 pandemic worries dampened enthusiasm for one of the country's largest public listings.

ETERNAL, FORMERLY KNOWN AS ZOMATO (JULY 2021)

The food and grocery delivery platform listed at a premium of 51.3% to its issue price, giving the startup a valuation of about $13 billion and setting the stage for other domestic startups waiting in the wings with listing plans of their own.

ONE97 COMMUNICATIONS (NOVEMBER 2021)

The parent of digital payments start-up, Paytm PAYT.NS, made one of the worst major Indian stock market debuts as its shares listed at a 9% discount and closed the first day 27% below its offer price due to concerns over profitability and lofty enterprise value.

LIFE INSURANCE CORPORATION OF INDIA (MAY 2022)

Shares of India's biggest insurer LIFI.NS slid nearly 9% in market debut amid broader market volatility and concerns over its market share loss to rivals.

HYUNDAI MOTOR INDIA (OCTOBER 2024)

The automaker's shares HYUN.NS fell 1.5% on listing after retail investors gave a lukewarm reception to the country's biggest-ever IPO amid concerns about a lofty valuation and an auto industry slowdown.

SWIGGY (NOVEMBER 2024)

The SoftBank-backed food and grocery delivery platform SWIG.NS listed at a 5.6% premium and extended gains through the day, signaling growing investor confidence in the segment.

NTPC GREEN ENERGY (NOVEMBER 2024)

The renewable energy firm's shares NTPG.NS jumped as much as 14% on their debut, as investors bet on the country's growing clean energy needs and the company's diversified portfolio.

HDB FINANCIAL SERVICES (JULY 2025)

Non-banking financial lending arm HDBF.NS of the country's largest private lender HDFC Bank HDBK.NS jumped about 13% on listing, notching a valuation of $8.2 billion, as investors bet on long-term growth prospects in the world's most populous country.

TATA CAPITAL (OCTOBER 2025)

India's third-largest non-bank lender TATC.NS made a muted debut, listing slightly higher than its issue price at a $15.78 billion valuation, with investors seemingly not that keen on the Tata Group's first IPO in two years due to a crowded IPO market and lack of valuation discount to listed peers.

(Reporting by Vivek Kumar M; Editing by Rashmi Aich)

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Updates for morning trade

By Bharath Rajeswaran and Vivek Kumar M

Oct 13 (Reuters) - India's benchmark shares fell on Monday, tracking losses across Asia after the United States made fresh tariff threats against China, while Tata Capital's much-awaited market debut came at a small premium over its issue price.

The Nifty 50 .NSEI fell 0.36% to 25,195.5 and the BSE Sensex .BSESN shed 0.35% to 82,211.63 as of 9:57 a.m. IST.

Thirteen of the 16 major sectors logged losses. The broader, more domestically focused small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 fell 0.4% and 0.2% respectively.

Other Asian markets .MIAPJ0000PUS fell 2.1% on the day.

Tata Capital TATC.NS listed at a premium of 1.23% over its issue price of 326 rupees in its debut trade, with the retail market seemingly still not that keen on the first listing by the storied Tata Group in nearly two years.

On Friday, U.S. President Donald Trump promised to sharply hike tariffs on China in a reprisal against its curb on critical mineral exports.

Rising trade tensions between the world's two largest economies could fuel inflation in the U.S. and force the Federal Reserve to delay interest rate cuts.

High U.S. rates do not bode well for emerging market equities such as India as they make dollar and Treasury yields attractive for global investors.

"Since the U.S. and China are the largest economies in the world with strong links with the rest of the world, global equity markets will be hurt in the short term," said G Chokkalingam, founder and head of research of Equinomics Research.

However, Indian markets could largely avoid the global downturn if the U.S. refrains from extending its tariff war to India, which might prompt a tactical shift of foreign inflows from China to India, Chokkalingam said.

Among individual stocks, Waaree Renewable Technologies WAAE.NS jumped 8% after its September quarter profit surged.

Visa processing company BLS International BLSN.NS tumbled 13% after the Ministry of External Affairs temporarily restricted the company from participating in new tenders for two years.

(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Sumana Nandy and Janane Venkatraman)

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Adds stock moves in paragraph 1 and 2, recasts throughout

By Meenakshi Maidas

Oct 10 (Reuters) - WeWork India Management WEWO.NS shares settled 3% lower in their trading debut on Friday, valuing the co-working space provider at 84.25 billion rupees (about $950 million), as investors worried about steep valuation and governance risks.

The shares opened barely above the IPO offer price of 648 rupees and fell as much as 5.2% to 614.25 rupees.

The firm, which licenses its brand from its now-bankrupt U.S. namesake WeWork Global, raised about $338.16 million in its IPO that was subscribed 1.15 times, driven largely by institutional bids.

"The market was not very comfortable with the valuation, and WeWork is now facing the heat," said Aishvarya Dadeech, chief investment officer at Fident Asset Management.

In terms of growth expectations too, WeWork appears less attractive than peers, Dadeech said, referring to projected revenue growth of 22% over fiscal years 2023 to 2025, behind listed peers such as Smartworks Coworking Spaces SMAW.NS, IndiQube Spaces IDIQ.NS and Awfis Space Solutions AWFI.NS.

WeWork India's listing came at a busy time for India's primary market. On Thursday, LG Electronics India LGEL.NS was bid 54.02 times, becoming the most subscribed billion-dollar IPO in nearly two decades, while Tata Capital's TATC.NS IPO drew bids worth $1.24 billion.

Beyond a crowded IPO market, WeWork India faces deeper challenges - from corporate governance concerns to questions over its ability to sustain operations and fund expansion amid slowing demand as well as rising competition from lean, profitable rivals.

Proxy advisor InGovern Research Services warned investors of WeWork India's fragile financials, including negative cash flow, high lease liabilities, and the absence of a fresh capital infusion.

WeWork India did not immediately respond to a request for comment.

The company operates flexible offices across eight major Indian cities, competing with peers such as Smartworks, which has risen 35% since its July debut, and IndiQube Spaces, which fell 15% after listing but has since recovered to trade 4% higher than its listing price.

Smartworks has a market capitalization of 68.9 billion rupees, while IndiQube is valued at 47.6 billion rupees, according to exchange data.

($1 = 88.6780 Indian rupees)

(Reporting by Meenakshi Maidas and Yagnoseni Das in Bengaluru; Editing by Sonia Cheema and Ronojoy Mazumdar)

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