Tata Sons IPO could fetch up to ₹12.5 lakh crore valuation, bankers estimate

Investment bankers project a potential valuation of ₹9 lakh crore to ₹12.5 lakh crore ($108-$150 billion) for Tata Sons in a prospective initial public offering. The estimate applies a significant holding company discount of 41-45% to the conglomerate's underlying portfolio, which is valued at ₹15-16 lakh crore. The portfolio consists of approximately ₹12 lakh crore in listed holdings and ₹4 lakh crore in unlisted assets.