Institutional investors bid for 4.5 times the number of shares reserved for them, while the retail portion was subscribed 2.93 times, data as of 6:00 pm showed.
The offer comprised a primary share sale of Rs 480 crore, while one of the existing shareholders was selling 1 million shares in the IPO in a price range of Rs 245 rupees to Rs 248.
Edelweiss, IDFC Bank and IIFL Holdings are managing the IPO.
India has seen a record year for IPOs with more than $11 billion of initial share sales in 2017.
© Thomson Reuters 2017
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