Overview

• Shares opened at Rs 92 on the NSE and Rs 91 on the BSE versus the Rs 91 issue price.
• The Rs 121.03 crore IPO was an all‑fresh issue of 1.33 crore shares in a price band of Rs 86–91.
• Overall subscription reached about 7.12 times, led by retail at roughly 47x compared with QIBs at around 1.07x and NIIs at about 10.61x.
• The grey market premium hovered near Rs 1 ahead of listing, indicating expectations for a flat start.
• Funds are designated for expansion capex, working capital needs and partial repayment of secured borrowings.