Overview

• The Rs 360.1 crore fresh equity issue opened July 25 with a price band of ₹189–199 per share and closes July 29 for bidding.
• Fifteen anchor investors subscribed to 54.28 lakh shares at the ₹199 upper band on July 24, raising ₹108 crore ahead of the public launch.
• Net proceeds are allocated for working capital (₹200 crore), capital expenditure on a new Jaipur plant (₹46 crore) and debt repayment (₹17 crore).
• Retail investors drove a 1.84-times subscription in their quota on day one, while non-institutional bids covered 1.09 times and QIB uptake was just 1 percent.
• Allotment is set for July 30, share transfers and refunds on July 31 and listing on the BSE and NSE on August 1.