Overview
- Shares listed at Rs 145 on the NSE and Rs 143.10 on the BSE, hit an intraday high near Rs 162, and settled around Rs 155–156, up 42–44% from the Rs 109 issue price for a market value of about Rs 44,000 crore (~$5 billion).
- The Rs 3,480-crore IPO combined a Rs 3,100-crore fresh issue with a Rs 380-crore offer for sale, reducing promoter ownership to roughly 72%.
- Proceeds are directed mainly to the offline strategy, including about Rs 710 crore for marketing, Rs 548 crore for lease payments, Rs 460 crore for fit-outs of new centers, and Rs 471 crore for investment in subsidiary Xylem.
- Overall subscription was about 1.8–1.92 times, led by QIB interest at roughly 2.7–2.86 times, with retail at about 1.06–1.14 times and NIIs around 0.48–0.51 times; the employee quota was heavily bid.
- The debut far exceeded grey-market indications of single‑digit gains and follows sector turbulence, marking a bellwether for selective edtech plays after Byju's collapse.