Overview

• Anchor investors bought 1.49 crore shares for Rs 397.83 crore at Rs 266, with participants including SBI MF, ICICI Prudential MF, Nippon Life India MF, Kotak MF and major insurers.
• The offer runs October 9–13, with allotment expected October 14 and a tentative listing on October 16 on the NSE and BSE.
• The grey market premium was about Rs 35 per share, implying roughly a 13% listing premium, though this unofficial indicator may not reflect actual debut pricing.
• Anand Rathi values the company at about 27.8x FY25 earnings at the upper band and issues a ‘Subscribe – Long Term’ view, noting the offer appears fully priced.
• Reports conflict on the minimum lot size, with 36 shares cited by one outlet and 56 by others, while both state a minimum outlay of Rs 14,896 at the top band; applicants should confirm the lot size in the offer documents.