Overview
- The book-built offer totals Rs 7,278.02 crore, opens Oct. 31 and closes Nov. 4, with allotment expected Nov. 6 and listing targeted for Nov. 10 on NSE and BSE.
- Pricing implies nearly Rs 70,000 crore in market value and a projected P/E of about 236x for FY2025, against FY2025 revenue of roughly Rs 6,652 crore and net profit of Rs 297 crore.
- The unofficial grey‑market premium has fallen by about half in three days to roughly Rs 44–46 on Thursday, signaling more tempered expectations for listing gains.
- The issue combines a Rs 2,150 crore fresh raise with an estimated Rs 5,128 crore offer-for-sale by existing holders including SoftBank Vision Fund, Kedaara and others, with only 10% reserved for retail.
- Pre‑IPO deals included Rs 100 crore from SBI Mutual Fund at Rs 402 per share and about Rs 90 crore from Radhakishan Damani, even as public commentary remains split between sharp criticism and supportive voices.