Tata Capital priced its IPO far below its unlisted valuations, a move that surprised many investors. At the same time, Pace Digitek is drawing strong momentum with a 61% subscription and about 8% listing gains.
Tata Capital pricing strategy — The ₹15,512-crore IPO is priced at ₹310-326 per share, vs a unlisted price around ₹735, implying roughly 2.2x-2.3x book value. This places it in line with peers and aims for broad subscription. [1]
Demand signals behind Tata Capital’s price — Merchant bankers reportedly priced to balance demand: more buyers at about ₹300 than sellers at ₹700, with anchor investor participation helping de-risk the huge issue. [1]
Pace Digitek: strong anchor and GMP signals — Pace Digitek priced at ₹208-219 per share; anchor investors included Societe Generale and SBI General Insurance. A GMP of ₹18 on the final day points to about 8% listing gains if the momentum holds. [2]
Takeaways for investors — These patterns show issuers juggling demand and valuations to avoid volatility, while giving momentum plays for early investors. For mutual funds and retail buyers, pricing discipline and anchor support matter for initial post-listing moves. [2] [1]
Closing thought: keep an eye on how pricing vs unlisted levels evolves through 2025’s IPO cycle.
References
Why is Tata Capital pricing its IPO far below unlisted levels?
Discusses why Tata Capital IPO priced below unlisted valuations, examining demand, multiples, valuation comparisons, and investor implications.
View sourcePace Digitek IPO: 61% book, GMP ₹18; ~8% listing gain; anchor investors Societe Generale SBI General Insurance.
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