Overview
- Shares are scheduled to list on Monday, Nov. 10, on the BSE and NSE after the allotment wrapped up.
- Grey‑market indications have fallen from about ₹108 to roughly ₹5–₹10, implying a near‑flat listing around ₹407, according to market trackers.
- The ₹7,278 crore offer drew heavy demand at roughly 28x overall, with total bids exceeding ₹1 lakh crore and strong institutional participation.
- At the ₹402 issue price, the stock screens expensive at around 230x P/E and elevated EV/Sales and EV/EBITDA, with several brokerages warning of limited listing gains even as some back a long‑term thesis.
- A large OFS will cash out early holders—SoftBank about ₹1,005 crore and founder Peyush Bansal roughly ₹823 crore—while the company points to FY25 profitability to defend the premium.