Overview
- Day one saw total bids for 2.78 crore shares against 6.67 crore on offer, with NIIs at 1.11 times, retail at 35% and QIBs at 1%.
- Ahead of opening, the company allotted 2.72 crore shares at Rs 397 to raise about Rs 1,080 crore from anchors, with 54.15% going to domestic mutual funds.
- The grey market premium hovered near Rs 61 on Nov 12, implying a listing price roughly 15% above the upper band, though such indicators are unofficial.
- The book-built issue is open Nov 12–14, with allotment expected Nov 17 and a tentative listing on the BSE and NSE on Nov 19.
- Broker research highlights both sector tailwinds and risks, citing governance and customer concentration concerns and noting valuation near 29x FY25 P/E versus higher multiples for some peers.