Standard Chartered allots 3.6 cr IDRs at Rs 104/IDR to anchor investors
Standard Chartered has come up with a public offer of 24 crore Indian depository receipts (IDRs).
By ET Bureau |
MUMBAI: Standard Chartered PLC has raised Rs 374.40 crore by issuing 3,60,00,000 Indian Depository Receipts (IDRs) to 16 domestic institutions at Rs 104 per IDR.
Standard Chartered has come up with a public offer of 24 crore Indian depository receipts (IDRs). Ten IDRs represent one equity share of the company (with a face value of $0.5 per equity share). The price band of the IDR is Rs 100-115 per IDR.
ICICI Prudential Discovery Fund and ICICI Prudential Infrastructure Fund have picked up 13.35 per cent each of the 3.6 crore shares allotted to the anchor investors, Reliance Growth Fund has bought 10.68 per cent stake and HDFC Prudence Fund has picked up 7.75 per cent.
As per the applicable SEBI Regulations, if the issue price fixed as a result of book building exercise is higher than the price at which Anchor Investors have been allocated building exercise is higher than the price at which Anchor Investors would be required to bring in additional amount.
The issue closes Friday.
Standard Chartered has come up with a public offer of 24 crore Indian depository receipts (IDRs). Ten IDRs represent one equity share of the company (with a face value of $0.5 per equity share). The price band of the IDR is Rs 100-115 per IDR.
ICICI Prudential Discovery Fund and ICICI Prudential Infrastructure Fund have picked up 13.35 per cent each of the 3.6 crore shares allotted to the anchor investors, Reliance Growth Fund has bought 10.68 per cent stake and HDFC Prudence Fund has picked up 7.75 per cent.
As per the applicable SEBI Regulations, if the issue price fixed as a result of book building exercise is higher than the price at which Anchor Investors have been allocated building exercise is higher than the price at which Anchor Investors would be required to bring in additional amount.
The issue closes Friday.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
Global Market: Standard Chartered bullish on Asia ex-Japan equities, sees strong AI-led growth2026-06-23T04:23:20Z- Rate hikes are coming, RBI has sent a clear signal, says Anubhuti Sahay, Standard Chartered2026-06-05T09:42:12Z
- RBI rate hikes to start in June, says Standard Chartered2026-05-21T09:30:31Z
ADVERTISEMENT
