Backed by private equity investor CX Partners and ace investor Rakesh Jhunjhunwala's investment firm Alchemy Capital, the IPO would comprise a fresh issue of shares as well as offer for sale. Up to 50 percent of the offer will be available for allocation to qualified institutional buyers (QIBs). In addition, 15 percent of the issue will be reserved for non-institutional bidders and 35 percent of the offer will be available for the allocation to retail individual bidders. According to market sources, the issue size will be approximately Rs 1,000-1,200 crore.
The issue will comprise a fresh issue of shares of Rs 275 crore and an offer for sale of up to 98,22,947 equity shares. The company may also consider doing a pre-IPO placement not exceeding Rs 150 crore, the company said in its DRHP. As of now wait and watch and let the grey market IPO premium warm-up to know the correct status of the company.
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