Overview

• Shares opened at Rs 104.90 on NSE and Rs 105 on BSE versus the Rs 99 issue price, a gain of about 6%.
• The IPO raised Rs 148.50 crore via a fresh issue of 1.5 crore shares priced in the Rs 94–99 band with a lot size of 150.
• Overall subscription reached roughly 102 times, including 47.88x by retail investors, 227.09x by NIIs, and 120.80x by QIBs.
• Grey-market indications pointed to an 11–13% listing gain, which exceeded the actual opening premium.
• Company filings state about Rs 115 crore of proceeds will go toward repayment or prepayment of borrowings, with the remainder for general corporate purposes.