Tata Capital vs WeWork India IPOs: Where Should Investors Place Their Bets?

Tata Capital vs WeWork India IPOs: Where Should Investors Place Their Bets?

As India’s primary markets gear up for a busy festive season, two highly anticipated IPOs are grabbing investor attention: Tata Capital Ltd. and WeWork India Management Ltd., both slated for October 2025. While Tata Capital leverages the credibility of the Tata brand, WeWork India faces scrutiny due to its global history and muted investor sentiment.

Tata Capital IPO Overview

Tata Capital Ltd. is launching a Rs 15,511.87 crore book-built IPO, comprising a fresh issue of 21 crore shares worth Rs 6,846 crore and an offer for sale of 26.58 crore shares worth Rs 8,665.87 crore. The IPO opens on October 6 and closes on October 8, 2025, with a tentative listing on October 13 on BSE and NSE.

The price band is set at Rs 310–326 per share. Retail investors can subscribe to a minimum of 46 shares (Rs 14,996 at the upper band). For small non-institutional investors (sNII), the minimum application is 14 lots (644 shares) worth Rs 2,09,944; for big non-institutional investors (bNII), it is 67 lots (3,082 shares) worth Rs 10,04,732. Kotak Mahindra Capital Co. Ltd. acts as the lead manager, with MUFG Intime India Pvt. Ltd. as registrar.

Grey Market Signals for Tata Capital

The latest grey market premium (GMP) for Tata Capital stands at Rs 27 (as of September 30, 2025), suggesting a potential listing price of Rs 353, or roughly an 8.3% gain. However, the IPO is priced at a steep discount to the company’s last unlisted price of Rs 735 and 71% below its April peak of Rs 1,125, implying limited near-term upside for early private investors.

WeWork India IPO Overview

WeWork India Management Ltd. is launching a smaller Rs 3,000 crore IPO, entirely an offer for sale of 4.63 crore shares. The IPO opens on October 3 and closes on October 7, 2025, with a tentative listing on October 10 on BSE and NSE.

The price band is Rs 615–648 per share. Retail investors can apply for a minimum lot of 23 shares (Rs 14,904 at the upper band). sNII investors can subscribe to 14 lots (322 shares) worth Rs 2,08,656; bNII investors for 68 lots (1,564 shares) worth Rs 10,13,472. JM Financial Ltd. is the lead manager, with MUFG Intime India Pvt. Ltd. again serving as registrar.

No Grey Market Premium for WeWork India

Unlike Tata Capital, WeWork India shares are trading at zero in the grey market, indicating no expected listing gains. The flat GMP reflects concerns over the company’s financial performance, global brand baggage, and absence of a fresh issue to raise new capital.

Tata Capital vs WeWork India: Investment Outlook

Market signals point to contrasting scenarios. Tata Capital, backed by the Tata Group, shows positive grey market trends and offers relative stability, appealing to long-term investors. WeWork India, lacking GMP support and raising no fresh capital, appears riskier, with uncertainties around growth and balance sheet strength.

Analysts advise investors to carefully weigh risks and rewards. While Tata Capital may offer credibility and stability, WeWork India is a higher-risk option, potentially suited only for investors with a strong appetite for volatility.

Disclaimer: The views expressed in this article are for informational purposes only and do not constitute financial advice. Investors should consult a qualified broker or financial advisor before making any investment decisions.

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