Overview

• NSE data showed bids for 15,049,352 shares against 27,606,555 on offer by the end of day two, with non-institutional at 78%, retail at 62% and QIB at 23%.
• The fully fresh Rs 819 crore offer is priced at Rs 208–219 per share with a retail lot of 68 shares, and Unistone Capital and MUFG Intime handle book-running and registry.
• The company raised about Rs 245 crore from anchor investors, including Societe Generale, Bandhan Mutual Fund and SBI General Insurance.
• Approximately Rs 630 crore of the proceeds are earmarked for a battery energy storage system for an MSEDCL project, with the balance for capital expenditure and general corporate purposes.
• Grey market quotes have varied across trackers, with indications around Rs 18 on September 29 and roughly Rs 5 on the morning of September 30, which are speculative and unofficial.