India, Aug. 5 -- Tata Capital, backed by Tata Sons, has submitted updated draft papers with SEBI for its upcoming Initial Public Offering (IPO), which will consist of up to 47.58 crore equity shares.
According to the revised Draft Red Herring Prospectus (DRHP) filed on Monday, the IPO will include a fresh issue of 21 crore equity shares along with an Offer for Sale (OFS) of 26.58 crore shares.
As part of the OFS, Tata Sons will sell 23 crore shares, while the International Finance Corporation (IFC) will divest 3.58 crore shares.
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