Overview
- Shares listed at Rs 129 on the NSE and BSE on Monday, briefly falling more than 4% in early trade.
- The stock closed marginally below issue price at Rs 128.80 on the NSE and Rs 128.90 on the BSE, with heavy volumes reported.
- On Tuesday, the counter rallied, touching an intraday high of Rs 149.50 before hovering near Rs 136 in afternoon trade.
- The Rs 1,010 crore IPO was priced at the top of a Rs 122–129 band, including Rs 710 crore fresh issuance and a Rs 300 crore offer for sale.
- Subscription figures differed across reports, with one citing 0.97 times overall and another calling it fully subscribed, while brokers flagged high credit costs, profit strain and elevated attrition.