Karamtara Engineering raises Rs 262 crore from anchor investors ahead of IPO. HDFC MF among top buyers

Karamtara Engineering has raised Rs 262.50 crore from anchor investors ahead of its IPO, which opens for subscription on September 9. The company allotted 1.03 crore shares to 15 anchor investors at Rs 254 per share, the upper end of the IPO price band. The price includes a share premium of Rs 244 per share.

The anchor book saw participation from domestic mutual funds, insurance companies, alternative investment funds and foreign institutional investors.

Out of the total anchor allocation, 46,85,121 equity shares were allotted to five domestic mutual funds through six schemes.


The mutual fund investors included HDFC Mutual Fund, Nippon India Small Cap Fund, Mirae Asset ELSS Tax Saver Fund, Motilal Oswal Manufacturing Fund, Motilal Oswal Infrastructure Fund and TrustMF Small Cap Fund.

Other investors in the anchor book included HDFC Life Insurance Company, SBI Life Insurance Company, Singularity Equity Fund I, Authum Investment and Infrastructure, Elm Park Fund, Societe Generale - ODI, Duro India Opportunities Fund Pte, Susquehanna Pacific Pty and Edelweiss Life Insurance Company.

Karamtara Engineering IPO details

Karamtara Engineering’s IPO will open for subscription on September 9 and close on September 11. The company has fixed the price band at Rs 241-254 per equity share.

The company’s portfolio includes solar module mounting structures, tracker components, transmission line towers, fasteners and overhead transmission line hardware fittings and accessories.

Karamtara has also built a global presence, exporting to more than 50 countries. Its backward-integrated model gives it control over key parts of manufacturing and helps it serve customers across solar energy and transmission infrastructure markets.

JM Financial, ICICI Securities and IIFL Capital Services are the book-running lead managers to the issue.