Overview
- Bids totaled 714,258 shares against 6,132,433 on offer by Wednesday, with QIBs at 96% subscription, NIIs at 19% and retail at 6%, and the issue closes on March 12.
- The offering targets about Rs 322.84–323 crore within a price band of Rs 521–548 per share through a mix of a Rs 255 crore fresh issue and an OFS of up to 12.38 lakh shares.
- The structure reserves 65% for retail investors, 34% for non-institutional investors and just 1% for QIBs, with no anchor allocation.
- Share allotment is slated for March 13 and listing on BSE and NSE is tentatively planned around March 17, with Emkay Global as book-running lead manager and KFin Technologies as registrar.
- Proceeds from the fresh issue are earmarked for debt repayment, working capital needs and general corporate purposes.