Primed for biggest IPO of year, Tata Capital springs price surprise

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Tata Capital's ₹15,512-crore IPO is priced at ₹310-326 per share, a significant discount to its unlisted market price of ₹735. This has disappointed investors who bought unlisted shares at much higher valuations, expecting robust listing gains. Experts caution that unlisted market prices are often speculative and do not reflect final IPO valuations, a trend observed in previous offerings.