IPO watch: GNA Axles raises Rs 37.90 cr from anchors

MUMBAI: Ahead of its initial public offering, GNA Axles has raised Rs 37.9 crore by allotting 18.30 lakh shares to three anchor investors at the upper end of its issue price band of `205207 per share.

The anchor investors include HDFC Trustee Company, Reliance Capital Trustee Company and UTI Mutual Fund. The company aims to raise a total of Rs 130 crore from the IPO. The issue will hit the markets on September 14 and close on September 16.

The IPO comprises of issue of up to 63 lakh shares.