Overview

• Shares opened at Rs 890 on the BSE and NSE and then fell, with declines reported intraday between about 7% and 14%.
• The Rs 450 crore IPO comprised a Rs 170 crore fresh issue and a Rs 280 crore offer for sale within a price band of Rs 846–Rs 890.
• Demand was strong across categories, with the overall book heavily oversubscribed and institutional interest notably high relative to retail.
• Ahead of the offer, the company raised Rs 135 crore from anchor investors by allotting 15.17 lakh shares at Rs 890 to 19 investors.
• Pre‑listing grey‑market indications suggested only about a 5% premium, which contrasted with the stock’s weaker on‑exchange debut.