Tata and LG to Make a Big Splash This Diwali with ₹32,000 Crore IPOs

With Tata Capital’s ₹17,000 crore IPO and LG Electronics’ ₹15,000 crore IPO, India’s stock market gears up for October. The combined ₹32,000 crore listing wave promises to add festive excitement. Let us take you through the details.

India’s capital market is gearing up for a blockbuster start in October, and the reason is clear. Two corporate giants, Tata Capital and LG Electronics, are preparing to roll out Initial Public Offerings worth a massive ₹32,000 crore. Both issues are expected to become the largest IPOs of the year. Investors are closely watching to see whether the festive Diwali season inspires them to participate in these large-scale public offerings.

Tata Capital IPO Details

According to media reports, Tata Group’s financial services arm, Tata Capital, plans to launch its IPO in the first half of October. The size of this issue is pegged at ₹17,000 crore. Around the same period, South Korea’s LG Electronics is also expected to bring its Indian unit’s IPO worth ₹15,000 crore.

Tata Capital’s offer will feature a fresh issue of nearly 21 crore shares and an Offer for Sale (OFS) of 26.58 crore shares. This will take the total size of the issue to 47.58 crore shares. Within this, Tata Sons is expected to sell around 2.3 crore shares, while International Finance Corporation (IFC) may offload nearly 3.58 crore shares. At present, Tata Sons holds 88.6% of the company’s stake, and IFC owns about 1.8%.

The Reserve Bank of India had earlier directed large non-banking financial companies like Tata Capital to list by September, with the aim of improving transparency and lowering systemic risks. Sources confirmed that the regulator granted the company additional time to prepare. Proceeds from the fresh issue will be directed towards strengthening Tier-1 capital and supporting loan growth.

This IPO will mark Tata Group’s first listing in two years and will also be the country’s largest issue since Hyundai Motor India’s record-breaking ₹27,870 crore IPO in 2024. However, Tata Capital has not yet released an official statement on the matter. Unlisted shares of Tata Capital were trading at ₹785 apiece last Friday, about 28% lower than its peak price of ₹1,095 in October 2024.

LG Electronics IPO Highlights

LG Electronics’ proposed ₹15,000 crore IPO is expected to open in early October after securing approval from the Securities and Exchange Board of India (SEBI) earlier this year. The South Korean electronics major plans to sell approximately 10.2 crore shares, representing around 15% of its Indian subsidiary’s equity.

A banker familiar with the matter told ET, “The company was waiting for the market to stabilize before moving forward, and October is now considered the right time.”

Leading global financial institutions such as Morgan Stanley India, JP Morgan India, Axis Capital, BofA Securities India, and Citigroup Global Markets India will act as the book-running lead managers. After Hyundai’s stunning listing last October, this will be the second-largest issue by a Korean company in India.

A Strong IPO Pipeline Ahead

The Tata and LG IPOs are adding momentum to what has already been a remarkable year for the Indian primary market. In 2025 so far, nearly 30 IPOs have raised over ₹60,000 crore, with HDB Financial Services leading with its ₹12,500 crore issue. In the coming months, the market expects IPOs worth nearly ₹70,000 crore from companies such as Groww, Meesho, PhonePe, boAt, WeWork India, Lenskart, Shadowfax, and Physics Wallah.

With several big-ticket IPOs scheduled during the festive season, October will serve as a test of investor appetite in India’s already heated primary market. The market will reveal whether investors are willing to take bigger risks in pursuit of strong returns.