Overview

• Basis of allotment is scheduled for June 18 with share credits and refunds on June 19 ahead of the June 20 listing on BSE and NSE
• Investors bid for 55.8 crore shares against 1.62 crore on offer, resulting in a 34.42-times overall subscription
• Qualified institutional buyers subscribed 88.08 times, non-institutional investors 36.70 times and retail investors 3.60 times
• Grey market trades show a premium of around Rs 60, implying a potential Rs 674 listing price at roughly a 9.8% gain
• The Rs 1,387.34 crore issue, including Rs 416.2 crore from anchor investors, will fund capex, expansion of Oswal Solar in Karnal, debt repayment and corporate needs