Sensex Nifty update: Tata Capital IPO opens today, market sees muted start

Benchmark indices Sensex and Nifty opened on a steady note on Monday, October 6, 2025, as investors monitored the much-awaited Tata Capital IPO and the approaching Q2 earnings season.

At 9:23 am, the S&P BSE Sensex was up 44.18 points at 81,251.35, while the NSE Nifty50 rose 18.45 points to 24,923. Broader market indices also inched higher as early trade volatility eased.

Hospital shares led early gains after the government revised rates under the Central Government Health Scheme, with Apollo Hospitals, Max Healthcare, and Narayana Health seeing sharp rises.

The spotlight remained on Tata Capital, which launched one of the year’s largest IPOs aiming to raise Rs 15,511.87 crore through a combination of a fresh issue of Rs 6,846 crore and an offer for sale of Rs 8,665.87 crore by existing shareholders, including Tata Sons and IFC.

The price band is set at Rs 310 to Rs 326 per share, with a lot size of 46 shares, making the minimum retail investment just under Rs 15,000. Allotment is expected on October 9, with a listing likely on October 13. Ahead of the launch, Tata Capital secured nearly Rs 4,642 crore from anchor investors, with LIC being the largest subscriber. At the upper end of the price band, the company’s valuation is close to Rs 1.38 lakh crore.

As an “upper-layer” non-banking financial company (NBFC), Tata Capital is mandated by the RBI to list by September 2025, and the IPO is expected to provide additional flexibility to expand its retail loan book, especially in unsecured segments.

Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that policy-driven optimism remains, though foreign institutional outflows continue to weigh on sentiment. He added that domestic inflows are increasingly chasing consumption-led themes like automobiles, banking, telecom, metals, cement, aviation, and digital platforms, with Kotak Mahindra Bank’s robust Q1 credit and deposit growth supporting the trend.

Investors are also looking forward to a potential US-India trade deal, which could trigger further market rallies ahead of strong corporate earnings growth of over 15% in FY27.