Overview
- The roughly Rs 3,900 crore offer combines a Rs 2,080 crore fresh issue with an offer for sale of 8.23 crore shares, both reduced from the DRHP plan.
- Pricing at the top end implies a post-issue valuation of about Rs 25,377 crore, with a minimum retail bid of 67 shares.
- Anchor bidding opens on November 6, public subscription runs November 7–11, allotment is expected around November 12–13, and listing is slated for November 14 on BSE and NSE.
- Fresh proceeds are earmarked to repay about Rs 532 crore of debt, invest in subsidiaries in Singapore, Malaysia and the UAE, and deploy roughly Rs 760 crore for IT, cloud and digital checkout points.
- A tax credit lifted Q1 FY26 to a small net profit despite a pre-tax loss and narrowing FY25 losses, while reported grey-market quotes indicate expectations of listing gains but are unofficial.