The IPO comprises a fresh issue of shares worth Rs 500 crore, and an offer for sale of 1.57 crore shares by two promoters – Suresh Tyagi and Jimmy Tyagi – besides Premji Invest-owned PI Opportunities Fund I, and Kotak Special Situations Fund.
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“Since the issue size was large, it took away the possibility of the share price seeing any scarcity premium on the listing day,” said Mrunmayee