Overview
- The company allotted 6.90 crore shares to anchor investors at Rs 124, with nine domestic mutual funds taking 53% of the anchor book alongside insurers and global institutions such as Government Pension Fund Global, HSBC Global Investment Funds and Societe Generale.
- The Rs 1,907.27 crore offer comprises a Rs 1,000 crore fresh issue and a Rs 907.27 crore offer for sale, priced in a Rs 118–124 band, open Jan 20–22 with allotment expected Jan 23 and listing targeted for Jan 28; the retail lot size is 120 shares.
- Grey market indications show an about Rs 11 premium and unlisted trades near Rs 134 per share, implying modest listing gains though these signals are unofficial and volatile.
- Fresh proceeds are earmarked chiefly for network expansion with roughly Rs 423 crore for infrastructure capex, Rs 138.6 crore for lease payments and Rs 88.6 crore for branding and marketing.
- Recent disclosures show operating revenue of about Rs 1,805 crore in H1 FY26, up 68% year on year, and a net profit of Rs 21 crore for the period.