Overview

• Exchange data showed the issue was subscribed about 3.07 times by Day 2, with early Day 3 bids lifting oversubscription to roughly 3.6 times as of 10:10 a.m., led by non‑institutional and retail investors.
• The Rs 687 crore offering comprises a Rs 400 crore fresh issue and an offer for sale of about Rs 287 crore at a price band of Rs 718–754 per share.
• Unofficial grey‑market indications around Rs 135 suggest an estimated listing near Rs 889, roughly 18% above the upper band, though such quotes are speculative and unofficial.
• Allotment is scheduled for September 25, with a tentative listing on NSE and BSE on September 29, according to issue timelines.
• The company raised Rs 205 crore from anchor investors before opening, with Motilal Oswal Investment Advisors and Axis Capital as book‑running lead managers and MUFG Intime India as registrar; proceeds are earmarked for debt repayment and working capital.