Overview

• The issue was subscribed 87% on day one, with QIBs at 47%, non‑institutional investors at 1.82 times, and retail at 69%, according to exchange data.
• The Rs 450 crore offer comprises a Rs 170 crore fresh issue and a Rs 280 crore OFS, priced at Rs 846–890 per share, open from Sept. 23 to Sept. 25.
• Before the launch, the company raised Rs 135 crore from 19 anchor investors by allotting about 15.16–15.17 lakh shares at Rs 890, including 360 ONE and Societe Generale, while WhiteOak and ITI mutual funds together took 23.33% of the anchor portion.
• Fresh proceeds are earmarked for marketing and brand building (Rs 81 crore), repayment of borrowings (Rs 45 crore), and general corporate purposes, with quotas set at 50% for QIBs, 35% for retail and 15% for NIIs.
• Unofficial grey‑market indications around Rs 122–130 suggest potential 12–14% listing gains; share allotment is slated for Sept. 26 and listing is expected on Sept. 30.