Overview
- The subscription window runs November 12–14, with anchor allocation on November 11, allotment likely on November 17, refunds and demat credit on November 18, and an expected listing on November 19 on BSE and NSE.
- At the upper end of the band, the offer implies a market value of about Rs 16,000 crore; the minimum bid is 37 shares with a face value of Rs 10.
- The allocation split provides up to 50% for qualified institutional buyers, at least 15% for non-institutional investors, and at least 35% for retail participants.
- Bookrunners are JM Financial, Citigroup Global Markets India, Axis Capital, and HSBC Securities and Capital Markets (India).
- The company makes clean air, powertrain and suspension systems, operates 12 plants in India, and sells aftermarket parts via Motocare India; the grey market premium was reported up about 24% on November 7, an unofficial and volatile indicator.