mint. The initial public offering's (IPO) share allotment was finalized on Wednesday. The company has cut its offer for sale (OFS) size to ₹4,400 crore from ₹5,249 crore after its initial public offering got a tepid response as it failed to get fully subscribed by the close of bidding.
The initial share sale had received 79% subscription on the final day, which was priced at ₹870-900 a share. "We expect the listing to at a discount of about 10%.
At lower than that buying will emerge from anchor investors who would like to reduce their cost of acquisition. IPO applicants have got almost full subscription.
Short-term traders looking for quick gain will be disappointed as we do not expect the stock to trade at a premium for the foreseeable