13 Oct 2025 | 5 Mins Read
Tata Capital makes subdued market debut, JM Financial gives 'Add' rating
Flipitmoney
Tata Capital listed at Rs 333 per share, a 1.2% premium over the IPO price. JM Financial initiated coverage with an "Add" rating, a target price of Rs 360, and a 9% upside potential. The company is expected to deliver a 20% AUM CAGR and 34% PAT CAGR during FY25-27E. Tata Capital is valued similarly to HDB and CIFC, with a target multiple of 2.9x FY27E BVPS.