New Delhi, Sept. 12 -- In a span of two years, a second company from the Tata group - Tata Capital - is set to enter the primary market. According to multiple media reports, the upper-layer non-banking finance company (NBFC) has received the central bank's approval to extend the IPO timeline and launch it in the first half of October.

Tata Capital IPO, likely valued at $2 billion, could be the second-biggest offer after Hyundai to hit the Indian stock market. According to a PTI report, Tata Capital is eyeing a valuation of $18 billion, a sharp jump from the $11 billion valuation ascribed when it filed confidential IPO papers in April.

However, as the listing for Tata Capital IPO is gathering pace, it is witnessing a decline in the unlis...