Overview

• Shares opened at Rs 225 on the NSE and Rs 226.85 on the BSE versus the Rs 219 issue price, then closed at Rs 217.99 and Rs 217.50, respectively.
• The IPO raised Rs 819.15 crore through a fully fresh issue in a Rs 208–219 band with a 68-share retail lot.
• The offer was subscribed about 1.59 times overall, with stronger participation from non-institutional investors than retail applicants.
• Unofficial grey-market premiums around Rs 12–17 had pointed to a bigger listing gain than the muted debut delivered.
• Approximately Rs 630 crore of proceeds are earmarked for capital expenditure and general corporate purposes, with about Rs 245 crore placed with anchor investors including Societe Generale, Bandhan MF and SBI General.