Tata Capital's Lackluster Debut
Tata Capital, India's third-largest non-bank lender by revenue, made a muted debut on Monday, listing at a premium of 1.2% and valuing the firm at 1.4 trillion rupees ($15.78 billion).
The company's shares traded at 329.8 rupees, slightly higher than their offer price of 326 rupees, as of 10:57 am. This subdued debut comes in a busy IPO market, where investors seem to favor other listings, such as LG Electronics India's $1.3-billion share sale, which is expected to bring stronger listing gains and near-term growth.
- Market capitalization: 1.4 trillion rupees ($15.78 billion)
- Listing premium: 1.2%
- Share price: 329.8 rupees
- Offer price: 326 rupees
No direct quotes available in the given text.
Tata Capital's market capitalization trails that of Bajaj Finance and Jio Financial Services, which are valued at $72 billion and $22 billion, respectively.
Author's summary: Tata Capital debuts with a lackluster performance.
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