Overview
- As of around 11 a.m., the IPO had bids for about 8.64 crore shares versus 1.06 crore on offer, indicating strong overall demand per NSE data reported by market outlets.
- Non‑institutional investors led with roughly 20–22 times subscription and retail was about 6–7 times, while QIB participation was still light at roughly 0.15–0.16 times in late‑morning tallies.
- The latest grey‑market premium stands near Rs 83–86 over the Rs 593 upper band—about a 14% implied gain—down from roughly 20% earlier in the week; GMP is unofficial and volatile.
- Share allotment is expected on November 26, refunds and demat credits on November 27, and trading on BSE and NSE is scheduled for November 28.
- The Rs 895 crore offer includes a Rs 95 crore fresh issue and about Rs 800 crore offer‑for‑sale by promoters, with fresh proceeds earmarked mainly for machinery at the Nandesari facility and general corporate purposes.