Samvardhana Motherson raises Rs 222 cr from anchor investors
As per NSE data, Government of Singapore purchased over 66 lakh shares in a transaction worth about Rs 78 crore.
By PTI |
NEW DELHI: Auto parts maker Samvardhana Motherson Finance Ltd (SMFL) on Monday raised Rs 222 crore through issue of shares to four anchor investors including the Government of Singapore and Royal Bank of Scotland.
SMFL, whose initial public offering opens on May 2, alloted a little over 1.93 crore shares to anchor investors. These equity shares were alloted at a price of Rs 115 apiece, according to data available on the National Stock Exchange.
In the process, the company raised Rs 222.03 crore. As per NSE data, Government of Singapore purchased over 66 lakh shares in a transaction worth about Rs 78 crore.
US-based IVY Pacific Opportunities Fund got 45.22 lakh shares. Two other anchor investors are Royal Bank of Scotland and Birla Sun Life. The IPO committee of the company's board of directors finalised the allocation of shares to anchor investors today.
Through the initial share sale, the company said it aims to mop up Rs 1,665 crore including the allotment to anchor investors. The price band has been fixed at Rs 113-118. The share sale would close on May 4.
SMFL, whose initial public offering opens on May 2, alloted a little over 1.93 crore shares to anchor investors. These equity shares were alloted at a price of Rs 115 apiece, according to data available on the National Stock Exchange.
In the process, the company raised Rs 222.03 crore. As per NSE data, Government of Singapore purchased over 66 lakh shares in a transaction worth about Rs 78 crore.
US-based IVY Pacific Opportunities Fund got 45.22 lakh shares. Two other anchor investors are Royal Bank of Scotland and Birla Sun Life. The IPO committee of the company's board of directors finalised the allocation of shares to anchor investors today.
Through the initial share sale, the company said it aims to mop up Rs 1,665 crore including the allotment to anchor investors. The price band has been fixed at Rs 113-118. The share sale would close on May 4.
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