Tata Capital's Record-Breaking IPO: A Green Investment Triumph for IFC
The International Finance Corporation (IFC) is set to capitalize from Tata Capital's forthcoming USD 2 billion IPO by offloading a portion of its shares. IFC's stake in Tata Capital has significantly appreciated over the years, notably with investments in Tata Cleantech Capital Ltd, which fostered growth in India's renewable energy sector.
- Country:
- India
The International Finance Corporation stands to gain substantial returns from Tata Capital's impending USD 2 billion initial public offering, as its World Bank Group affiliate plans to reduce its stake in the non-banking finance company.
IFC intends to offload 3.58 crore shares in the IPO, marking a strategic exit from an early investment in Tata Capital's cleantech division made back in 2011, as per recently updated draft documents.
Tata Capital's public offering is expected to commence in the first half of October, following an extension from the Reserve Bank of India, positioning the IPO as potentially the largest in India's financial sector.
(With inputs from agencies.)
- READ MORE ON:
- Tata Capital
- IPO
- IFC
- cleantech
- renewable energy
- Tata Sons
- finance
- TCCL
- investment
- World Bank Group
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