Overview

• Total bids reached 2.05 times the shares on offer, with non-institutional investors at 2.97x, QIBs at 1.87x and retail at 1.42x, according to NSE data.
• The Rs 307 crore issue was priced at Rs 120–129 per share and comprised a Rs 160 crore fresh issue and a Rs 147 crore offer for sale.
• Grey market indications cooled to about Rs 5 on the morning of the final day, an informal gauge that suggested a modest listing premium.
• Share allotment is expected on October 3, with a tentative listing on the BSE and NSE on October 7.
• Proceeds are earmarked primarily for purchasing commercial vehicles and containers, with the remainder for general corporate purposes.