Overview

• The Rs1,387.34 crore IPO opened on June 13 and will close on June 17, with allotment on June 18 and listing on June 20
• Investors can bid for shares at Rs584–614 apiece, with Rs890 crore in fresh equity and Rs497.34 crore via offer-for-sale
• Anchor investors led by Capital Group’s SmallCap World and ICICI Prudential Mutual Fund acquired 67.78 lakh shares at Rs614 each, raising Rs416.2 crore
• Day-one subscriptions reached 10%, and a grey market premium of Rs70–75 per share implies an 11–12% listing gain that could stretch to 15%
• Brokerages from Anand Rathi to SBI Securities recommend ‘subscribe for long term’, citing Oswal’s Rs216.71 crore net profit in 9MFY25 and its leadership in solar pumping