Tata Capital Ltd., one of India’s biggest shadow lenders, is entering the country’s $194 billion gold loan market by acquiring a majority stake in Yogakshemam Loans Ltd., intensifying competition in the nation’s fastest-growing lending segment.

Reliance Industries Ltd. is gearing up to offer only new shares in the initial public offering of Jio Platforms Ltd., without selldowns by existing holders, according to people familiar with the matter, reducing the risk of more international capital leaving India.