Tata Capital Ltd. IPO

We are the flagship financial services company of the Tata group and a subsidiary of Tata Sons Private Limited, the holding company of the Tata group and the Promoter of the Company. According to the CRISIL Report, with a legacy spanning over 150 years, the Tata group is one of India’s most ... distinguished business groups, comprising companies across 10 verticals such as automotive, technology, steel, financial services, aerospace and defence, and consumer and retail (section 27, page 185). The “Tata Group” brand was recognised as the most valuable brand in India as per the Brand Finance India 100 2025 report. According to the CRISIL Report, we are the third largest diversified NBFC in India with Total Gross Loans of Rs.2,334.0 billion as at June 30, 2025 (section 27.1, page 185); are among the fastest growing large diversified NBFCs in India based on growth in Total Gross Loans (section 27.1, page 185), with Total Gross Loans growing at a CAGR of 37.3% from March 31, 2023 to March 31, 2025; and have a track record of sustained growth while maintaining the asset quality, as evidenced by the metrics such as, Gross Stage 3 Loans Ratio of 2.1%, Net Stage 3 Loans Ratio of 1.0% and Provision Coverage Ratio (“PCR”) of 53.9%, which are among the best across large diversified NBFCs in India as at June 30, 2025 (section 27.7, page 191). the Total Gross Loans (excluding TMFL) grew at a CAGR of 28.4% from March 31, 2023 to March 31, 2025. the asset quality (excluding TMFL) stood at Gross Stage 3 Loans Ratio of 1.5%, Net Stage 3 Loans Ratio of 0.5% and PCR of 65.8% as at March 31, 2025. Since commencing the lending operations in 2007, we have served 7.3 million customers up to June 30, 2025. Through the comprehensive suite of 25+ lending products (the “Lending Business”), we cater to a diverse customer base comprising salaried and self-employed individuals, entrepreneurs, small businesses, small and medium enterprises and corporates. We are focused loan portfolio is highly granular, with ticket sizes ranging from Rs.10,000 to over Rs.1 billion, and over 98% of the Loan accounts have a ticket size of less than Rs.10 million, as at June 30, 2025. In addition, 80.0% of the Total Gross Loans were secured and The Organic Book accounted for over 99% of the Total Gross Loans, as at June 30, 2025. We operate an omni-channel distribution model that combines the wide branch network, a robust partner ecosystem, and a strong digital presence, all of which work together to deliver a superior customer experience. We have an extensive pan-India distribution network comprising 1,516 branches across 27 States and Union Territories, as at June 30, 2025. the branches are typically staffed with an in-house team responsible for customer engagement, acquisition, loan processing, documentation and servicing. We have undertaken branch additions in the preceding three fiscal years, resulting in the branch network growing at a CAGR of 58.3% from March 31, 2023 to June 30, 2025. the branch network is complemented by the proprietary digital platforms, including the website and mobile apps, which work together to support the ‘phygital’ strategy. Furthermore, we have established partnerships with direct selling agents (“DSAs”), original equipment manufacturers (“OEMs”), dealers, and digital partners to broaden the reach. Read more

Unless otherwise indicated, industry and market data used in this section have been derived from the report titled, “Analysis
of NBFC Sector in India” dated September, 2025 (the “Crisil Report”) prepared and issued by Crisil, which has been
commissioned by and ... paid for by the Company exclusively in connection with the Offer for the purposes of confirming the understanding of the industry in which we operate. Neither we, nor the BRLMs, nor any other person connected with the Offer has independently verified any third- party statistical, financial and other industry information in the Crisil Report. Unless otherwise indicated, all financial, operational, industry and other related information derived from the Crisil Report and included herein with respect to any particular year, refers to such information for the relevant year. The data included herein includes excerpts from the Crisil Report and may have been re-ordered by us for the purposes of presentation. For further details and risks in relation to the Crisil Report, see “Risk Factors – Internal Risks – We have included data derived from the Crisil Report titled “Analysis of NBFC Sector in India” which has been prepared by Crisil, exclusively for the Offer and commissioned and paid for by us and any reliance on such information for making an investment decision in the Offer is subject to inherent risks.” Read more