Tree House allocates shares to anchor investors at Rs 135/share

MUMBAI: Tree House Education and Accessories has allocated 12.64 lakh shares to anchor investors at a price of Rs 135 per share. These investors include Rising India Focus Fund and Axis Equity Fund and Axis Midcap Fund.

The company has entered the capital market to raise between Rs 114-129 crore by issuing shares in the price band of Rs 135-153 per share. Retail investors will get a discount of Rs 6 per share.

It plans to use the proceeds for expansion of pre-school business, acquisition of office space, procurement of exclusivity rights to provide educational services, set-up educational complexes in Rajasthan and Gujarat and for loan repayment.

The issue closes Friday.