Tata Capital, the financial services arm of Tata Group, is gearing up for a major initial public offering (IPO) in early October. The firm is targeting a post-money equity valuation of around $16.5 billion (approximately ₹1,46,000 crore) for the listing. Launch details IPO likely to open for public subscription on October 6 The anchor portion of Tata Capital's IPO is likely to be on October 3, with public subscription starting between October 6 and 8. Fund utilization Proceeds to strengthen Tier-I capital base The proceeds from Tata Capital's IPO will be used to strengthen the company's Tier-I capital base for future capital requirements, including onward lending. Despite challenging market conditions for NBFC listings recently, Tata Capital remains optimistic about its upcoming IPO.