Overview

• Shares opened at Rs 183.85 on the NSE and Rs 186.10 on the BSE versus the Rs 204 issue price, reflecting discounts of 9.88% and 8.77% respectively.
• The IPO raised Rs 504 crore, following a price band of Rs 194–204 per share and a bidding window from September 24 to 26.
• Overall subscription stood at 3.07 times, led by Qualified Institutional Buyers at 5.10 times, NIIs at 3.68 times, and retail at 1.69 times.
• At the listing price, a retail allotment of one lot (73 shares) translated into a reported notional loss of about Rs 1,471.
• Brokerages had issued largely positive recommendations before listing, yet the stock’s debut fell short of those expectations.