Overview

• Subscription runs September 24–26, with an entirely fresh issue of 2.34 crore shares and no offer-for-sale component.
• Allocation favors individuals at a minimum 75% of the offer, NIIs at least 24%, and QIBs up to 1%, as detailed in the prospectus.
• The company states net proceeds will go toward repayment or pre-payment of certain borrowings and general corporate purposes.
• The grey market premium was nil as of the morning of September 23, indicating a flat view on informal channels, which are speculative.
• Allotment is expected on September 29 and a tentative BSE/NSE listing is slated for October 1; lot size is 151 shares with a Rs 14,949 minimum for retail at the upper band.