Listing at a Glance
- NSE open: ₹505 (27.2 % above ₹397 IPO price)
- BSE open: ₹498 (25.4 % pop)
- Intra-day high: ₹517; M-cap ~ ₹20,100 cr
- Grey-market expectation (26 %) almost hit to the decimal
What the Street is Saying
| View | Rationale | Source |
|---|---|---|
| HOLD | “Fully priced” at 23.8× FY26e EPS & 3.2× Mcap/Sales; global tech edge & clean-air leadership justify long-term stay | Anand Rathi |
| BOOK PARTIAL | Listing gain of ₹18,685 per 37-share lot already captured; OFS structure means no fresh money for growth | Upstox |
| ADD-ON DIPS | Strong anchor book (₹1,080 cr), 59× oversubscription, marquee OEM client list (Maruti, M\&M, Tata, Hyundai etc.) support any 5-7 % pullback |
Quick Funda Check
- Q1-FY26 PAT ₹168 cr on sales ₹1,286 cr → Net margin 13 %
Post-IPO promoter stake drops to ~75 %; free-float liquidity improves
EV exports & BS-VII pre-buy cycle could be next tailwinds.
Investor Action Matrix
| Time-horizon | Strategy |
|---|---|
| Listing-day trader | Book 70-80%; keep 20 % for possible 5% follow-through |
| 6-12 month swing | Hold with ₹465 stop; target ₹550-580 on first quarterly beat |
| 3-yr compounding | Accumulate 25 % every 3% dip; global R\&D backing + India clean-air regulations = structural 15 % EPS CAGR plausible |
Disclaimer: The above views are market commentary, not individual investment advice. Consult your financial planner, do your own due diligence, and assess your risk appetite before acting.
