Overview

• Shares began trading at ₹136 on BSE; they opened at ₹137.52 on NSE, reflecting a roughly 13% discount to the ₹158 issue price.
• The IPO was subscribed 1.84× overall; retail investors led with 2.22×; non-institutional investors at 1.84×; qualified institutional buyers at 1.30×; employees at 1.57×.
• Grey market premium collapsed from pre-bid highs of ₹15–18 per share to ₹3 ahead of listing, signaling muted investor expectations.
• Proceeds of ₹254.26 crore comprised a ₹165.17 crore fresh issue followed by an ₹89.09 crore offer-for-sale to bolster the company’s capital base.
• Established in 1996 in Jaipur, the NBFC focuses on priority-sector MSME lending; vehicle financing; construction loans across multiple states.