The ₹1,500-crore inaugural share offer, which opened for subscription on June 25, ends June 27.
The issue has been subscribed 23.55 times, with investors vying for 92.71 crore equity shares, compared to 3.93 crore shares offered for subscription as of 7:00 p.m. on Thursday.
Retail investors booked their quota 4.51 times, while non-institutional investors subscribed 32.40 times. However, the quota reserved for qualified institutional bidders (QIBs) was oversubscribed 50.37 times. The employee component saw a 9.89 times subscription.
On June 24, the Maharashtra-based company received ₹449 crore from institutional investors through the anchor book. Goldman Sachs, Societe Generale, Nippon Life India, LIC Mutual Fund, BNP Paribas, and 360 One Special Opportunities Fund, among others, contributed to the anchor book.
The company sold 53 shares in one lot at a price ranging from ₹267 to ₹281.
The public offer included new equity shares worth ₹1,000 crore and promoters’ offer to sell shares worth ₹500 crore.
As part of the OFS, Bina Kishore Chhabria, Resham Chhabria, Jeetendra Hemdev, and Neesha Kishore Chhabria sold shares.
The ₹720 crore money received from the fresh issue would be utilised to service debt. In addition, a portion will be used for general business reasons.
As of December 2023, the company’s total debt stood at approximately ₹808 crore.
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