Indian non-bank lender Tata Capital to launch IPO

Indian non-bank lender Tata Capital to launch IPO

India's Tata Capital (TATC.NS), opens new tab plans to launch an initial public offering in which the non-bank lender will issue 230 million new shares, while current shareholders will exit through the offer for sale route, it said on Tuesday. The financial services arm of India's $165 billion Tata Group was mandated to list by September this year, according to central bank norms for so-called "upper layer" non-banking financial companies.

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