Overview
- After debuting at ₹145 and closing Day 1 at ₹156.49, the stock fell across subsequent sessions, with intraday lows near ₹121 on Thursday.
- Market capitalization retreated from a debut-day peak of about ₹46,300 crore to below roughly ₹37,700–37,900 crore, wiping out around ₹8,400–₹8,600 crore.
- Trading turned choppy with heavy volumes, including roughly 6.94 crore shares and about ₹907 crore in turnover during Thursday’s sell-off.
- Analysts flagged profit-taking, valuation worries, competition and regulatory uncertainty, with some advising partial profit-booking and a stop-loss near ₹130.
- The ₹3,480 crore IPO combined a ₹3,100 crore fresh issue and a ₹380 crore OFS, drew overall subscription of about 1.9x with stronger QIB and employee interest than retail and NIIs.