Overview
- Subscription opens on November 4 with a price band of Rs 95–100 per share and a lot size of 150 shares.
- The offering comprises a Rs 1,060 crore fresh issue plus a Rs 55.72 crore offer-for-sale in a book-built issue.
- Tentative timelines indicate share allotment on November 10 and listing on November 12 on both the BSE and NSE, with Kotak Mahindra Capital as lead banker.
- Coverage frames the deal as a barometer for new-age brokerages as stricter rules on derivatives and compliance pressure brokerage margins.
- Three SME IPOs also open next week — Shreeji Global FMCG (Nov 4–7), Finbud Financial Services (Nov 6–10), and Curis Lifesciences (Nov 7–11) — contributing to a broader pipeline some outlets peg at roughly Rs 6,800 crore.