Overview
- The offering was subscribed 59.53 times by 3:24 p.m., with QIBs at 80.92x, NIIs at 37.07x and retail at 17.52x, per exchange data.
- Priced at Rs 105–111, the Rs 5,421.2 crore issue comprises a Rs 4,250 crore fresh issue and about Rs 1,171 crore via an OFS.
- Grey‑market quotes around Rs 45–49 signal a possible 40–45% listing premium, a speculative indicator rather than a guarantee.
- Share allotment is expected on Dec 8, demat credit and refunds on Dec 9, and listing on the NSE and BSE on Dec 10.
- Proceeds are earmarked for Rs 1,390 crore to cloud infrastructure, Rs 480 crore to tech salaries, and Rs 1,020 crore to marketing, after raising about Rs 2,439 crore from anchor investors earlier in the week.