Tata Capital is targeting a post-money valuation of around $16.5 billion (around ₹1,46,000 crore) for its IPO of $1.85 billion (nearly ₹16,400 crore), Moneycontrol reported. The Tata Group's financial services arm is gearing up for its listing in early October. The IPO will consist of a fresh issue of shares and offer-for-sale by Tata Sons and International Finance Corporation.