Overview

• By 1:00 pm on Aug 20, bids reached 3.97 times the shares on offer, with retail at 4.52x, non-institutional at 6.47x and QIB at 1.15x.
• Grey market indications range around Rs 26–30 over the Rs 252 cap, implying roughly a 10–12% premium.
• The Rs 410.71 crore offer is an entirely fresh issue priced at Rs 240–252 per share, open for subscription Aug 19–21 with a retail lot size of 58 shares.
• Proceeds are earmarked primarily for acquiring Supramax dry-bulk carriers, with a smaller portion for repayment of borrowings and the balance for general corporate purposes.
• Anchor investors committed about Rs 123 crore across 15 funds, and the timeline guides to allotment on Aug 22 and listing on BSE and NSE on Aug 26.