Tata Capital, the non banking finance arm of the $165 billion Tata Group, will consider raising funds through a share sale to existing investors in a board meeting on Tuesday, the company said in a stock exchange notification.
The board meeting for the rights issue comes even as the company is preparing for an initial public offer of more than Rs 15,000 crore to comply with Reserve Bank of India (RBI) regulations which require upper-layer NBFCs), to list their shares by September 2025.
Tata Sons holds a 93% stake in Tata Capital. In December, ET had reported that the company had started the IPO process and appointed Kotak Mahindra Bank as the investment banker.
Earlier this month, the company had said it is also looking to raise Rs 15,000 crore by issuing green bonds and non-convertible debentures.
