Morgan Stanley, Goldman Sachs, Amansa Capital, Norges Bank, Life Insurance Corporation of India, ICICI Prudential Mutual Fund and HDFC Mutual Fund are among the dozen firms that have shown interest, according to bankers familiar with the matter.
The anchor book is scheduled to open on october 3. Email queries to Tata Capital and these institutions went unanswered.
The size of Tata Capital’s anchor book is likely to be ₹4,600 crore. Companies can allocate up to 60% of the Qualified Institutional Buyer (QIB) quota to anchor investors before the IPO. In Tata Capital’s case, the QIB portion is about ₹7,700 crore, which is 50% of the total issue size.
“The anchor investor portion of Tata Cap’s IPO is likely to be oversubscribed more than four times, based on expressions of interest from both domestic and foreign institutions,” said one of the bankers.
The IPO will be open for all investors from October 6 to October 8. The IPO comprises a fresh share sale of around ₹6,846 crore and an offer-for-sale (OFS) of approximately ₹8,666 crore. The price band has been set at ₹310-326 per share.
as a Reliable and Trusted News Source