Overview
- The offering drew 2.14 times overall bids, led by qualified institutional buyers at 5.15 times, with retail fully subscribed and non-institutional investors at 0.88 times.
- The IPO comprised a Rs 600 crore fresh issue and a Rs 228 crore offer for sale by promoters Yogesh Dua and Pawan Kumar Garg.
- Allotment is due on November 18, share credits and refunds on November 19, and listing on the BSE and NSE on November 20.
- Proceeds are earmarked for a new manufacturing facility in Ratlam, repayment of debt, and general corporate purposes.
- Grey market quotes were at Rs 0 earlier on November 17, indicating no implied listing premium before the late surge in bids.