Overview
- Bids totalled 94,56,000 shares against 1,34,64,781 on offer by day two, with overall subscription at 0.70 times, NIIs at 1.23 times, retail at 0.71 times, and QIBs at 0.26 times.
- The grey market premium was Rs 8 on Sept. 17, indicating an estimated listing near Rs 255, though GMP is unofficial and can change.
- The Rs 451.31–451.32 crore offering is entirely an offer-for-sale of about 1.83 crore shares in the Rs 235–247 price band, with proceeds to selling shareholders.
- Bidding runs Sept. 16–18, share allotment is slated for Sept. 19, and a tentative listing is set for Sept. 23 on the BSE and NSE; the retail lot size is 60 shares with a Rs 13 per-share employee discount.
- Anchor investors took 54.64 lakh shares at Rs 247, raising about Rs 135 crore, with PineBridge India Equity Fund allotted 24.69% of the anchor book, Turnaround Opportunities Fund 19.73%, and Motilal Oswal Large Cap Fund 18.52%.