It’s going to be a busy week for the primary market as two major companies, Tata Capital Ltd and LG Electronics India Ltd, gear up to launch their initial public offerings (IPOs), collectively worth more than ₹27,000 crore.
The ₹15,512 crore Tata Capital IPO will be the largest issue of the year, and will open for subscription on October 6 and close on October 8. The offering comprises a fresh issue of 21 crore shares and an offer for sale (OFS) of 26.58 crore shares.
At the upper end of the ₹310 to ₹326 per share price band, the non-banking financial company is valued at around ₹1.38 lakh crore.
Under the OFS component, Tata Sons will offload 23 crore shares, while the International Finance Corporation (IFC) will divest 3.58 crore shares.
The proceeds from the fresh issue will be used to strengthen Tata Capital’s Tier-1 capital base, supporting future growth and lending operations.
Currently, Tata Sons holds an 88.6 per cent stake, and IFC owns 1.8 per cent.
In 2025, a total of 78 companies have already tapped the mainboard market through maiden public offerings, and several issues are lined up for this month.
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The IPOs come at a time when the Indian market is experiencing a boom in primary market activity, despite a struggling broader equity market.
For FY25, Tata Capital reported a profit after tax of ₹3,655 crore, up from ₹3,327 crore in FY24, while revenue surged to ₹28,313 crore from ₹18,175 crore a year earlier.
LG Electronics India Ltd, the Indian arm of South Korea’s LG conglomerate, will open its ₹11,607 crore IPO for subscription from October 7 to October 9.
This will be the second South Korean firm to tap Indian markets after Hyundai Motors India’s listing last year.
Also, LG Electronics India’s issue will be the third-largest IPO of 2025, following Tata Capital’s upcoming ₹15,512 crore issue and HDB Financial Services’₹12,500 crore listing in June.
The LG IPO, entirely an offer for sale (OFS) of 10.18 crore shares, representing a 15 per cent stake, will not bring in any proceeds to the Indian unit, as all funds will go to the South Korea-based parent. The price band has been set at ₹1,080 to ₹1,140 per share, valuing the company at about ₹77,400 crore.
The South Korean firm is a leading player in consumer electronics and home appliances, manufacturing products such as washing machines, refrigerators, LED TVs, air conditioners, and microwaves at its Noida and Pune plants.
LG Electronics India’s revenue from operations was ₹24,366.64 crore for FY25 compared to ₹21,352 crore in the preceding year. Its net profit rose to ₹2,203 crore from ₹1,511 crore.
Tata Capital’s shares are expected to list on October 13, while those of LG Electronics India are expected to list on October 14.
Apart from these two mega IPOs, Rubicon Research’s ₹1,377.5 crore public issue would open on October 9, and WeWork India Management’s ₹3,000 crore public offering is currently underway.
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