Tata Capital, the lending arm of the Tata Group, made its stock market debut at ₹329.80, delivering a modest ~1.2% premium over its ₹326 issue price. Despite being one of the year’s largest IPOs, investor enthusiasm was cautious. Analysts cite pricing discipline, global market caution, and competition from other big listings as reasons. The debut’s muted performance may raise questions about near-term follow-through and investor appetite in large IPOs under volatile conditions.