Overview

• Shares opened at Rs 295 on NSE and Rs 296.05 on BSE, roughly 8% below the Rs 322 upper-end issue price.
• The Rs 408.80 crore IPO comprised a Rs 130 crore fresh issue and a Rs 278.80 crore offer-for-sale.
• Overall subscription reached 2.67 times, led by QIBs at 4.18 times and NIIs at 4.34 times, with retail at 1.45 times.
• The grey-market premium was quoted at Rs -9 before listing, a speculative indicator that pointed to a below-issue debut.
• At the listing price, retail investors faced an estimated loss of about Rs 1,242 per 46-share lot.