Overview
- Shares opened at Rs 162.50 on the NSE and Rs 161.20 on the BSE, about 46% above the Rs 105–111 issue price band.
- The IPO drew 79 times overall subscription, including 120.18 times in the QIB tranche, 38.16 times for NIIs and 19.08 times for retail investors.
- The offering comprised a Rs 4,250 crore fresh issue and a Rs 1,171 crore offer for sale, with proceeds earmarked for cloud infrastructure, ML/AI hiring costs and marketing.
- Cofounders Vidit Aatrey and Sanjeev Kumar sold 1.6 crore shares each via the OFS, receiving about Rs 177 crore apiece as several early backers realised multibagger gains.
- The stock rose as much as about 55% intraday to roughly Rs 172.70, exceeding grey-market projections of around 25–35% listing gains.