Overview
- The Rs 3,480 crore offer runs November 11–13 in a Rs 103–109 price band, with allotment due November 14 and listing planned for November 18 on BSE and NSE.
- By mid‑afternoon on Day 1, overall subscription was about 6%, with retail near 27%, NIIs around 2% and QIB participation minimal, according to NSE data.
- Anchors took 14.34 crore shares at Rs 109 to raise roughly Rs 1,563 crore, with bids near 13 times from leading domestic mutual funds and global investors.
- The grey market premium hovered around Rs 3, signaling an estimated listing level near Rs 112 and only limited near‑term upside.
- Proceeds are slated for marketing (~Rs 710 crore), lease payments (~Rs 548 crore), and fit‑outs for offline and hybrid centres (~Rs 460 crore), as broker views remain mixed on valuation and path to profitability.