Overview
- By 12:40 pm on day two, bids reached 1.54 times the offer, with retail at 1.53x, non-institutional at 3.57x, employees at 5.02x, and qualified institutions near 0.03x.
- The Rs 1,667.5–1,668 crore issue is priced at Rs 695–730 per share and is a complete offer-for-sale by Orkla Asia Pacific and the Meeran family.
- Anchor investors put in nearly Rs 500 crore ahead of the launch, including allocations to Nippon Life India and Nomura, while brokerage views remain mixed from Neutral to Subscribe for long term.
- Grey market indications of about Rs 65–70 imply an estimated listing near Rs 798, or roughly 8–9% above the top end of the price band, though these signals are unofficial.
- The offer closes on Oct. 31, with share allotment expected on Nov. 3 and listing planned for Nov. 6 on the BSE and NSE.