S H Kelkar & Co raises Rs 150 crore from anchor investors
Fragrance maker S H Kelkar & Company today raised Rs 150 crore from anchor investors, a day ahead of opening of its Rs 500-crore initial public offering for public subscription.
By ET Bureau | Updated:
MUMBAI: S H Kelkar & Company, a leading fragrance maker has raised about Rs 152.45 crore from 13 anchor investors on Tuesday ahead of its Rs 500 crore initial public offer, which will open on Wednesday.
Company in a press release said that 84.70 lakh shares have been issued to the anchor investors such as T Rowe Price, Smallcap World Fund, Neuberger Berman, ICICI Prudential Mutual Fund, Birla Sun Life Mutual Fund, Axis Mutual Fund and L&T Mutual Fund among others.
US based Smallcap World Fund, managed by Capital Research, which bought 18.75 lakhs shares or 22.13% of the anchor portion, was the biggest anchor investor.
The anchor portion which is 30% of the issue size were allotted to the investors at a price of Rs 180 apiece. The company had fixed the price band at Rs 173-180 per equity share for IPO. The company's Rs 500-crore public issue will close on October 30.
Of the total, it will raise Rs 210 crore by issuing fresh shares, while the US-based private equity giant Blackstone will mobilise Rs 290 crore by offloading its 10% stake in the company. In 2010, Blackstone had bought a 33% stake in the company for Rs 243 crore. The company proposes to use the issue proceeds for repayment of loans as well as investment in its subsidiary K V Arochem Private Ltd and for other general corporate purposes.
Company in a press release said that 84.70 lakh shares have been issued to the anchor investors such as T Rowe Price, Smallcap World Fund, Neuberger Berman, ICICI Prudential Mutual Fund, Birla Sun Life Mutual Fund, Axis Mutual Fund and L&T Mutual Fund among others.
US based Smallcap World Fund, managed by Capital Research, which bought 18.75 lakhs shares or 22.13% of the anchor portion, was the biggest anchor investor.
The anchor portion which is 30% of the issue size were allotted to the investors at a price of Rs 180 apiece. The company had fixed the price band at Rs 173-180 per equity share for IPO. The company's Rs 500-crore public issue will close on October 30.
Of the total, it will raise Rs 210 crore by issuing fresh shares, while the US-based private equity giant Blackstone will mobilise Rs 290 crore by offloading its 10% stake in the company. In 2010, Blackstone had bought a 33% stake in the company for Rs 243 crore. The company proposes to use the issue proceeds for repayment of loans as well as investment in its subsidiary K V Arochem Private Ltd and for other general corporate purposes.
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