BFSI Summit
Tata Capital on course to list on bourses by Sept 2025, says MD
This story was originally published at 21:06 IST on 6 November 2024
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--Tata Capital MD Rajiv Sabharwal: On track to list on bourses by Sept 2025
By Kabir Sharma and Ashna Mariam George
MUMBAI – Tata Capital is on course for listing on exchanges by September 2025, Managing Director and Chief Executive Officer Rajiv Sabharwal told Informist on the sidelines of the Business Standard BFSI Summit. "Whatever RBI has given us as the timeline, we are working towards keeping it," Sabharwal said. Tata Capital is required to list on bourses by 2025 according to the Reserve Bank of India guidelines.
Sabharwal's comments come in the backdrop of media reports citing that the company may not be listed in the timeline prescribed by the Reserve Bank of India. On the proposed merger with Tata Motors Finance Ltd, Sabharwal said the companies are awaiting the National Company Law Tribunal's approval.
The RBI approved the merger of Tata Motors Finance Ltd. with Tata Capital Ltd. in October. The RBI's approval for the merger came after the Competition Commission of India had approved the merger in early September.
While the RBI approved the merger, the scheme of arrangement between the two companies would still need the sanction of the National Company Law Tribunal and approval of the respective shareholders and creditors of the companies. At the end of 2023-24, Tata Capital had a loan book of INR 1.58 trillion and a net profit of INR 31.50 billion. End
Edited by Deepshikha Bhardwaj
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