Investors can bid for one lot of 20 shares, which will entail a minimum investment of ₹14,600, and then in multiples of 20 shares thereafter. The entire issue is an Offer For Sale (OFS), which means the company will not receive any proceeds from the issue.
50% of the issue is reserved for eligible institutional investors (QIBs), 15% for non-institutional and the remaining 35% of the IPO shares have been reserved for retail investors. Additionally, a discount of ₹69 per share is being offered to eligible employees applying under the employee reservation portion.
Here are the selling shareholders in the IPO:
- Orkla Asia Pacific: One of the promoter entity selling shares, whose average acquisition cost is ₹111 per share. The entity will be selling 2.05 crore shares.
- Open to Meera: Will be selling 11.41 lakh shares of the company with an average acquisition cost of ₹458.7 per share.
- Meera Avas: Who will also be selling 11.41 lakh equity shares with an average acquisition cost of ₹458.7 per share.
At the upper end of the price band, the company will have a price-to-earnings ratio of 39 times, based on financial year 2025 diluted Earnings Per Share (EPS).
The issue will close for subscription on Friday, October 31.
