“Kalyan’s stock price has risen 8x in the past two years as the business model successfully transformed through the capital-light franchise model," says HSBC Securities.
The rally was driven by the banking and IT sectors, with additional support from the auto pack, propelling the frontline indices to new record fresh milestones.
The retail investor segment had a subscription of 21.52 times, non-institutional investors subscribed 27.41 times, and Qualified Institutional Buyers 25.42 times.