Overview

• The offer drew bids for 14,834,376 shares against 13,363,342 on offer by the end of Day 2, with overall subscription at 1.11 times, according to NSE data.
• Non-institutional investors subscribed 1.88 times and retail investors 1.37 times, while the QIB portion was at 2%.
• The Rs 745 crore IPO is an entirely fresh issue priced in a Rs 393–414 band with no offer-for-sale component.
• The company raised a little over Rs 220 crore from anchor investors ahead of the public subscription.
• An unofficial grey market premium of Rs 45 on Sept. 24 implied an estimated listing price near Rs 459, though such indications are not official.