Overview
- The share sale drew bids for 2,25,63,870 shares against 1,89,05,270 on offer on Tuesday, reaching 1.19 times subscription, according to NSE data.
- The offer opened on March 24 and closes March 27, with allotment expected by March 30 and listing slated for April 2 on BSE and NSE.
- The issue is priced at Rs 201–212 per share for a total size of about Rs 440 crore, with reservations set at 50% for QIBs, 35% for retail investors, and 15% for NIIs.
- The offering is a pure fresh issue with no promoter sell-down, and the company plans to use the proceeds mainly for working capital and for general corporate needs.
- Ahead of the launch, the company raised Rs 60 crore from anchors on Monday by allotting 28,30,380 shares at Rs 212 each to Rajasthan Global Securities, Lords Multigrowth Fund, and Chanakya Opportunities Fund I.