Tata Capital Makes Lacklustre Debut
Shares of Tata Capital, India's third-largest non-bank lender by revenue, listed at a premium of 1.2% in their pre-market debut.
Tata Capital was muted in its debut trade on Monday, valuing the firm at 1.4 trillion rupees ($15.78 billion), with investors seemingly not keen on the first listing by the storied Tata Group in nearly two years.
The company's subdued debut has come in a busy IPO market, where analysts say investors favour LG Electronics India's $1.3-billion share sale, expecting stronger listing gains and near-term growth, helped by recent tax cuts.
- As of 10:57 am, Tata Capital shares traded at 329.8 rupees, slightly higher than their offer price of 326 rupees.
- Its market capitalization at the current price trails Bajaj Finance and Jio Financial Services, which are valued at $72 billion and $22 billion, respectively.
No direct quote available in the given text.
Author's summary: Tata Capital's IPO debut was lacklustre, valuing the firm at $15.78 billion.
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