Overview
- Overall subscription reached 9.07 times as of Friday morning on Day 3, up from 7.97 times at the close of Day 2 per exchange data.
- Day 2 category demand showed broad participation, with non-institutional investors at 9.18 times, retail at 9.14 times, and QIBs at 6.96 times.
- Unregulated grey market quotes of about Rs 48–49.5 imply a roughly 40–45% premium to the Rs 111 cap, which investors view only as a sentiment gauge.
- The Rs 5,421 crore offer includes a Rs 4,250 crore fresh issue and a Rs 1,171 crore OFS at a price band of Rs 105–111, after raising about Rs 2,439 crore from anchor investors.
- Proceeds are earmarked for cloud infrastructure (Rs 1,390 crore), technology team compensation (Rs 480 crore), and marketing and brand initiatives (Rs 1,020 crore), with allotment due December 8 and listing slated for December 10.