Overview

• Trading is slated to begin on the BSE and NSE at 10 a.m. on September 17 after the allotment was finalised on September 15.
• The grey‑market premium eased to roughly Rs 52–55 on September 16, implying about a 50% premium to the Rs 103 offer price, though such quotes are unofficial and volatile.
• The offering drew bids worth about Rs 1.13 lakh crore and was subscribed roughly 103–109 times overall, including about 140 times by institutional buyers and about 39–41 times by retail.
• The issue comprised a Rs 472 crore fresh sale and a Rs 1,428 crore offer for sale, with proceeds earmarked for technology, cloud infrastructure, leases, marketing and general corporate purposes.
• Investor enthusiasm has been fuelled by a return to profit in FY25 and a small profit in Q1 FY26, even as commentators highlight the gig‑based model and valuation as key post‑listing tests.