Markets regulator has recently announced changes to IPO listing rules, reducing the timeline from the T+6 days to T+3 days, where T is the IPO closing date.
The IPO is a combination of a fresh issue and an offer for sale (OFS). The fresh equity of 1.38 crore shares and OFS of 30.4 lakh shares. Under the OFS, promoter Vijay Ramanlal Sanghavi will offload 30.4 lakh shares.
The IPO comprises a fresh equity issue of 1.38 crore shares and an offer for sale (OFS) of 30.4 lakh shares. About 50% of the offer is set aside for qualified institutional buyers, 15% is reserved for non-institutional investors, and 35% for retail investors.