Sources say the company is likely to file its updated Draft Red Herring Prospectus (DRHP) as early as tomorrow or by the end of this week. Tata Capital plans to raise around $2 billion through the IPO, which is expected to launch in the first half of September this year. The IPO is being driven by a regulatory mandate. In September 2022, the Reserve Bank of India classified Tata Capital as an upper-layer systemically important NBFC, requiring it to go public within three years. That deadline expires this September.
