Overview
- The offer-for-sale IPO closed on Friday, June 5, subscribed 127.04 times with bids for 292.75 crore shares against 23.04 lakh shares on offer.
- Investors placed bids worth more than Rs 56,200 crore overall and institutional buyers led demand with roughly Rs 33,976 crore of bids.
- Qualified institutional bidders (QIBs) drove the book, subscribing 270.46 times, while NIIs were 172.35x, retail 27.03x and employees 18.53x.
- Grey market premium rose from about Rs 60 at open to around Rs 77 by the final day, which implies roughly a 40% potential listing gain versus the upper band of Rs 192.
- The IPO was a full offer-for-sale of about 3.28–3.29 crore shares, anchored by 98.14 lakh shares sold to 18 funds for Rs 188.44 crore, and the next steps are basis of allotment on June 8, refunds/demat on June 9 and listing on June 10.