is preparing for one of the largest public issues and the biggest NBFC listing in India this year, aiming to raise around ₹15,512 crore. The offering will be a combination of fresh equity shares and an offer for sale (OFS) by existing shareholders. The company has fixed the price band at ₹310–₹326 per share.
The fresh issue portion, worth about ₹6,946 crore, will be used to strengthen its capital base and fuel lending growth, while the OFS component will provide partial exits to promoters including Tata Sons.
in contrast, is valued at around ₹3,000 crore and will be entirely an OFS. Existing shareholders, including Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd (part of WeWork Global), will offload up to 4.63 crore shares at a price band of ₹615–₹648. Since no fresh shares are being issued, the proceeds will not flow into the company’s books, making this IPO purely a liquidity event.
Subscription window & listing timeline
Tata Capital’s anchor investor bidding opens on October 3, 2025, with the public issue scheduled between October 6-8. Share allotment is expected on October 9, and the listing is slated for October 13.
WeWork India opens anchor bidding on October 1, 2025, with the public subscription running from October 3 to 7. The company is expected to finalise allotments on October 8 and list on October 10, just three days before Tata Capital.
Comparative takeaways
Pertaining to the size of the issue, Tata Capital dwarfs WeWork India’s IPO, with ₹15,511 crore against ₹3,000 crore.
On the liquidity or capital front, Tata Capital will use fresh proceeds to expand lending, while WeWork India’s proceeds go entirely to selling shareholders.
Tata Capital would suit long-term investors seeking financial sector exposure. WeWork India may attract those betting on the coworking industry’s resilience but carries higher operational risk.
Brokerage views & market sentiment
For Tata Capital, analysts highlighted the company’s diversified loan book, profitability and the fresh capital infusion as positives. However, they also caution that NBFCs remain exposed to credit cycle and interest rate risks.
Khushi Mistry, Research Analyst at Bonanza, emphasised that the IPO is expected to lift sentiment for Tata Group financial stocks, leveraging growth in core lending segments such as infrastructure, housing and clean energy.
Mistry went on to mention Tata Capital’s widespread positive fundamental views pertaining to growth, compliance and position as a systemically important NBFC.
Precisely, the company’s ability to deliver shareholder value now depends solely on operational performance and profitability.
For WeWork India IPO, sector headwinds could weigh on investor sentiment. Bonanza analyst pointed out the company’s turnaround to profitability, leadership in the coworking market and operational scale, but cautioned sector’s inherent volatility and renewal risks.
Khushi Mistry added that the flexible workspace sector is expected to comprise over 20 per cent of India’s office space soon, bolstering WeWork India’s long-term prospects, especially with its operational leadership and continued urban clustering strategy.