Overview
- Shares debuted at Rs 188.5 on the NSE and Rs 187.7 on the BSE, touched an intraday high of Rs 191, and closed about 12% above the Rs 165 issue price.
- The IPO drew roughly 60.3 times subscription overall, including 101.41x from QIBs, 82.58x from NIIs, 27.26x from retail investors, and 69.81x in the employee tranche.
- The offering comprised a fresh issue of 2.43 crore shares within a Rs 155–165 price band, raising about Rs 400.95 crore with no offer-for-sale component.
- The company earmarked approximately Rs 280 crore for working capital and the remainder for general corporate purposes, with executives clarifying no immediate debt reduction plan.
- Pre-listing grey-market indications of around Rs 26 suggested a notional price near Rs 191, a speculative gauge that aligned broadly with the actual debut.