Overview
- Shares are slated to list on Monday, November 10 on both BSE and NSE after allotment was finalised on November 6.
- The ₹7,278 crore IPO comprised a ₹2,150 crore fresh issue and an offer-for-sale of over 12.75 crore shares, priced in a ₹382–₹402 band that values the company near ₹72,700 crore at the top end.
- Demand was strong with overall subscription around 28x, including 40.35x for QIBs, 18.23x for NIIs, 7.54x for retail and about 4.95x for employees, drawing 32.56 lakh applications and bids exceeding ₹1.13 lakh crore.
- The grey market premium swung from roughly ₹95–₹108 during bidding to near zero or about ₹6–₹10 before listing, hinting at a flat or marginally positive debut, though GMP is unofficial and volatile.
- Valuation worries have grown before the debut, with Ambit Capital issuing a sell call at a ₹337 target, while CEO Peyush Bansal stressed the company’s mission-focused outlook ahead of the bell.