Overview

• The three‑day subscription runs October 6–8, with early Day 1 bids showing about 15% in the first hour and roughly 25% by early afternoon, according to exchange‑day coverage.
• The offer comprises 21 crore fresh shares and a 26.58 crore offer for sale, with Tata Sons selling up to 23 crore shares and IFC up to 3.58 crore shares.
• Anchor investors committed about Rs 4,642 crore ahead of the launch, with LIC disclosed as the largest buyer in the anchor tranche.
• Retail applications require a lot of 46 shares, implying roughly Rs 14,996 at the upper band; allotment is expected on October 9 with demat credits and refunds on October 10.
• Grey‑market indications suggest a modest premium of roughly Rs 7–12.5 (about 2–4%), broker views are largely “subscribe” for the long term with valuation and credit risks flagged, and listing is widely guided for October 13 on BSE and NSE.