The International Finance Corporation is set to pocket hefty returns from Tata Capital’s upcoming USD 2 billion (Rs 17,000 crore) initial public offering, as the World Bank Group arm looks to trim its stake in the non-banking finance company.
The International Finance Corporation (IFC) will offload 3.58 crore shares in the offering, exiting part of an early bet on Tata Capital’s cleantech business made in 2011, according to the updated draft red herring prospectus (DRHP).
Tata Capital is likely to launch its USD 2 billion initial public offering (IPO) in the first half of October after the Reserve Bank of India (RBI) granted an extension to list its shares on bourses, people familiar with the matter said.
Earlier, the non-banking finance company was given time till September 30 to list on stock exchanges.
IFC, the World Bank Group’s private sector arm, partnered with Tata Capital in 2011 to set up Tata Cleantech Capital Ltd (TCCL), with the mandate to finance renewable and sustaina
​The International Finance Corporation is set to pocket hefty returns from Tata Capital’s upcoming USD 2 billion (Rs 17,000 crore) initial public offering, as the World Bank Group arm looks to trim its stake in the non-banking finance company.
The International Finance Corporation (IFC) will offload 3.58 crore shares in the offering, exiting part of an early bet on Tata Capital’s cleantech business made in 2011, according to the updated draft red herring prospectus (DRHP).
Tata Capital is likely to launch its USD 2 billion initial public offering (IPO) in the first half of October after the Reserve Bank of India (RBI) granted an extension to list its shares on bourses, people familiar with the matter said.
Earlier, the non-banking finance company was given time till September 30 to list on stock exchanges.
IFC, the World Bank Group’s private sector arm, partnered with Tata Capital in 2011 to set up Tata Cleantech Capital Ltd (TCCL), with the mandate to finance renewable and sustainaÂ
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