Overview
- NSE data show 99,00,87,025 bids against 1,05,64,926 shares, with QIBs at 213.08 times, NIIs at 116.72 times, and retail at 15.65 times.
- The latest grey market premium is roughly Rs 83–86, implying about a 14% listing uplift over the Rs 593 cap, though GMP is unofficial and volatile.
- Share allotment is slated for November 26, refunds and demat credits for November 27, and listing on BSE and NSE on November 28.
- The Rs 895 crore offer comprises a Rs 95 crore fresh issue and an Rs 800 crore OFS within a Rs 563–593 band, after raising Rs 268.5 crore from anchors at Rs 593.
- Brokerages largely advise subscribing for the long term, citing sector tailwinds but flagging an aggressive post-issue valuation around 45–48x P/E; fresh proceeds go to machinery for the Nandesari facility and general corporate purposes.