Mumbai, Sept. 29 -- Amid concerns around a significant drop in the price of unlisted shares of Tata Capital and a lower-than-expected IPO price band, MD and CEO Rajiv Sabharwal told Mint that the board of the company met for the first time to decide on the pricing on Sunday and that the price band is based on investor feedback and to incentivise retail participation.

The Rs.15,500-crore initial public offering (IPO), which will be open for subscription from 6 October to 8 October; comprises fresh issue of up to 210 million shares, and an offer for sale of up to 266 million shares-of which 230 million will be sold by promoter Tata Sons and up to 36 million shares by investor International Finance Corporation (IFC). The price band for the ...