Overview

• Shares opened at Rs 225 on the NSE and Rs 226.85 on the BSE versus the Rs 219 issue price.
• The offering was a fully fresh issue in the Rs 208–219 band, raising Rs 819.15 crore with a minimum lot of 68 shares.
• Overall subscription came in around 1.6–1.7 times, led by 2.90x bids from non‑institutional investors, with retail at 1.03x and QIB at 1.60x.
• Grey‑market indications had suggested a Rs 12–17 premium, exceeding the small listing pop seen at debut.
• Up to Rs 630 crore of proceeds are slated for capital expenditure and general corporate purposes, with Rs 245 crore raised via anchors including Societe Generale, Bandhan Mutual Fund and SBI General Insurance.