Overview
- Shares slipped as much as 9.1% to about ₹154–₹156 on Thursday, extending losses after a 10% lower circuit on Wednesday.
- The retreat follows a jump to ₹193.80 earlier this week—nearly 94% above the IPO price—before gains narrowed to roughly 55%.
- With only about 7% free float, volatility has been elevated, and a short squeeze earlier in the week pushed over 3 million shares into the NSE auction window.
- The company’s market value briefly topped ₹1 lakh crore during the rally, reflecting how scarce supply and heavy demand accelerated the initial climb.
- Analysts recommend partial profit-booking while maintaining a longer-term view, and offer documents detail plans to expand margin products, unsecured lending and wealth services, with quarterly results due Nov 21.