The IPO could sail through as the subscription details showed robust institutional demand, with the qualified institutional buyer (QIB) segment bidding for 6.97 times the shares on offer.
The issue consists of a fresh issue of Rs 580 crore and an offer for sale of upto Rs 3,420 crore by its promoter Shiv Chand Kansal. Currently Kansal holds 50 percent stake in the firm.