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 non-institutional category was subscribed the most at 42.23x, followed by retail investors at 23.08x. The demand from qualified institutional buyers gained momentum towards the later half of the day, with category subscription at 4.2x