Shares of Tata Investment Corp. surged as news of Tata Capital's upcoming IPO creates buzz in the market.
Tata Capital, the financial services arm of the Tata Group, is expected to have an IPO worth over Rs 15,000 crore.
The decision to list Tata Capital aligns with the RBI's requirement for NBFCs to be listed within three years of receiving notification.
Tata Investment Corp. shares rose by 12% in early trade, with law firm Cyril Amarchand Mangaldas and investment bank Kotak Mahindra Capital being roped in as advisors.