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Total amount raised
$1.69 Billion
Latest funding date
2026-07-01
Location
Tata Capital has raised about USD 1.69 billion in disclosed funding across eight rounds. Its latest round, a USD 400 million senior unsecured bond, closed in July 2026 with no named bookrunners. The company is a Mumbai-based non-banking financial company under the Tata Group. It listed on the NSE and BSE on October 13, 2025, and it absorbed Tata Motors Finance in a merger effective May 8, 2025.
What Is Tata Capital?
Tata Capital Limited is a non-banking financial company. It offers commercial lending, consumer lending, housing finance and related products to retail, corporate and institutional customers.
The company is part of the Tata Group. Tata Sons held 85.41 percent of Tata Capital as of March 2026, and Tata Motors received about 4.7 percent through TMF Holdings in the Tata Motors Finance merger. Tata Capital had 29,812 employees, 21,704 permanent and 8,108 non-permanent, as of March 31, 2026.
How Much Funding Has Tata Capital Raised?
- Debt Financing
- Amount Raised: INR 1,800,000,000 (approximately USD 25,500,000)
- Date: January 2019
- Lead Investors: FMO
- Motivation Behind the Round: Strengthen liability profile and diversify funding sources.
- Debt Financing
- Amount Raised: USD 30,000,000
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Motivation Behind the Round: Strengthen liability profile and diversify funding sources.
- Private Equity
- Amount Raised: INR 3,000,000,000 (approximately USD 39,800,000)
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Motivation Behind the Round: Strengthen capital base and support growth initiatives.
- Debt Financing (USD Bond)
- Amount Raised: USD 400,000,000
- Date: January 2025
- Lead Investors: Not publicly disclosed
- Motivation Behind the Round: Diversify funding; this was the first dollar bond.
- Initial Public Offering (NSE and BSE)
- Amount Raised: INR 6,846 crore (approximately USD 774,700,000) fresh issue of 21,00,00,000 new shares, within a total offer of INR 15,511.87 crore (approximately USD 1,755,400,000) that also included an INR 8,665.87 crore (approximately USD 980,600,000) offer for sale of 26,58,24,280 existing shares
- Date: October 2025 (issue open October 6 to 8, 2025; listed October 13, 2025)
- Lead Investors: Not applicable (public offering priced in a band of INR 310 to 326 per share)
- Motivation Behind the Round: Augment Tier-I capital and cover offer costs. Shares opened at INR 330 versus the INR 326 issue price, in the largest Indian IPO of 2025.
- Grant
- Amount Raised: USD 3,000,000
- Date: November 2025
- Lead Investors: Green Climate Fund
- Motivation Behind the Round: Support sustainability and climate-related projects.
- Debt Financing
- Amount Raised: USD 15,850,000
- Date: November 2025
- Lead Investors: Green Climate Fund
- Motivation Behind the Round: Strengthen liability profile and diversify funding sources.
- Debt Financing (USD Senior Unsecured Bond)
- Amount Raised: USD 400,000,000
- Date: July 2026
- Lead Investors: Not publicly disclosed (bookrunners not named)
- Participants: Asset managers, insurers, banks and other institutional investors in Asia and EMEA
- Motivation Behind the Round: Support the liability profile. The 3.5-year notes priced 107 basis points over Treasuries, part of the USD 2 billion EMTN program.
Total Amount Raised: At least USD 1,688,850,000. That includes USD 848,850,000 from five dollar rows: December 2020, January 2025, November 2025 (two rows) and July 2026. The remaining three rupee rows were converted at Federal Reserve H.10 monthly average rates. Those were 70.7100 for the January 2019 debt, 75.3948 for the December 2021 private equity, and 88.3691 for the October 2025 IPO fresh issue. Only the fresh issue counts as funds the company raised; the rest of the IPO offer was a sale of existing shares by selling shareholders. Current Valuation: About INR 1.53 lakh crore on June 22, 2026. As of September 2026, the company's latest disclosed capital raise is its July 2026 USD 400 million bond.
Key Investors
- FMO
- Details: FMO is the Dutch entrepreneurial development bank, supporting private sector growth in emerging markets. It provided Tata Capital with INR 1,800,000,000 (approximately USD 25,500,000) of debt financing in January 2019.
- Investment Focus Areas: Financial institutions, energy, agribusiness.
- Notable Investments: Not publicly disclosed.
- Green Climate Fund
- Details: The Green Climate Fund is an international fund that supports developing countries facing climate change. It provided Tata Capital with a USD 3 million grant and USD 15.85 million of debt financing in November 2025.
- Investment Focus Areas: Climate change mitigation and adaptation, sustainable development.
- Notable Investments: Not publicly disclosed.
What's Next for Tata Capital?
Tata Capital's most recent move was on the debt side. In July 2026 it raised USD 400 million through a 3.5-year senior unsecured bond at a 5.332 percent coupon, its second dollar bond. The order book ran about four times the issue size. In June 2026 the board approved raising up to INR 36,000 crore through non-convertible debentures, subordinated debt, perpetual bonds and green bonds by private placement. The plan needs shareholder approval and would fund expansion and refinance debt.
Tata Capital completed its merger with Tata Motors Finance in May 2025 and its stock listing in October 2025. It posted consolidated profit after tax of INR 1,502 crore for the quarter ended March 2026, up 42.8 percent year on year. It now raises capital through bond issuance and public equity markets. No further private funding rounds are expected.
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