Overview
- The offering, which closed Tuesday, drew bids for 37.8 crore shares against 3.98 crore on offer for 9.5 times overall coverage, exchange data showed.
- Qualified Institutional Buyers (large funds) led the book at 24.87 times, Non‑Institutional Investors reached 6.57 times, and the retail tranche improved to 2.03 times.
- Allotment is slated for Wednesday and the shares are set to list on Friday, May 8, on the BSE and NSE.
- Grey‑market quotes, an unofficial indicator, rose from about Rs 1–2 during bidding to roughly Rs 11–12 per share, pointing to a modest potential listing gain.
- Analysts flag key risks including a loan book concentrated in unsecured credit (~94% of AUM), reliance on NBFC partners such as subsidiary Si Creva, and sizable contingent liabilities, even as the Rs 162–171 price band targets Rs 926 crore with Rs 278 crore already raised from anchors.