Overview

• By noon on day one, the offer was subscribed 0.09% overall, with retail at 0.16%, NIIs at 0.06% and no QIB bids yet, according to exchange data cited by NDTV Profit.
• Unofficial grey market quotes ranged around Rs 14–20, implying an estimated 7–10% listing premium, though such indicators are not official.
• Reports on the anchor book diverge, with NDTV citing Rs 151.2 crore (74.12 lakh shares) and PTI/News18 reporting Rs 180 crore (88.24 lakh shares), with investors including Citigroup Global Markets, Morgan Stanley Asia and WhiteOak Capital.
• The Rs 504 crore offer comprises a Rs 300 crore fresh issue and a Rs 204 crore OFS in a price band of Rs 194–204, with subscriptions open Sept. 24–26 and a tentative listing on Oct. 1 on the BSE and NSE.
• Use of proceeds includes Rs 101.62 crore for a new Ghiloth facility, Rs 58.10 crore to expand Mambattu, and Rs 70 crore for debt repayment, while brokerages note a post-issue P/E near 34.5 with several recommending subscribe for the long term.