Overview

• As of July 3, bids for 1.85 crore shares have covered 75% of the 2.46 crore shares on offer
• Retail investors have subscribed 0.95 times and non-institutional investors 1.18 times of their quotas, while QIB subscriptions stand at 0.09 times
• Grey market premiums have climbed to Rs 39, implying a likely listing near Rs 284 and potential gains of around 16%
• The Rs 860 crore issue is a pure offer-for-sale of 3.51 crore promoter shares priced at Rs 233–245, with no proceeds going to Crizac
• The IPO remains open until July 4, with share allotment set for July 7 and a tentative listing on the BSE and NSE on July 9