Tata Group company Tata Capital Ltd is moving closer to going public. Tata Capital has filed a pre-filing draft offer document (PDRHP) with capital market regulator Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).

As per reports, submitting offer documents prior to filing is an optional alternative approach for conducting an Initial Public Offering on the mainboard. Under SEBI regulations, firms looking to launch an IPO on the mainboard are required to “pre-file” the offer document with SEBI.