Overview

• Subscriptions run October 15–17, with allotment expected on October 20 and a tentative BSE/NSE listing on October 24.
• The offer totals Rs 451 crore, comprising a Rs 250 crore fresh issue and a Rs 201 crore offer-for-sale, with a lot size of 14 shares and a Rs 14,910 retail minimum at the upper band.
• Grey market signals are conflicting, with Investorgain showing a Rs 0 premium on Oct 14 and Financial Express citing about Rs 104, which remains an unofficial indicator.
• Proceeds are earmarked for a Phase II quartz processing expansion, electric dump trucks, solar integration at certain mines, partial debt repayment, and general corporate purposes.
• DAM Capital, Motilal Oswal, and Intensive Fiscal Services are book-running lead managers with KFin as registrar; promoters own 84.58% pre-offer, and two will sell part of their stake via the OFS.