3 IPO-Bound Companies Raise Rs 500 Crore From Anchor Investors
The three companies are set to float their maiden public issues on Feb. 7 to collectively mobilise around Rs 1,700 crore.
Three companies that will launch their initial public offerings on Wednesday have raised over Rs 500 crore from anchor investors.
Rashi Peripherals Ltd. has garnered Rs 180 crore, while lenders Jana Small Finance Bank Ltd. and Capital Small Finance Bank Ltd. have mopped up Rs 166.95 crore and Rs 157 crore, respectively.
The three companies are set to float their maiden public issues on Feb. 7 to collectively mobilise around Rs 1,700 crore.
Rashi Peripherals
Allocated 57.87 lakh shares at Rs 311 apiece to 18 anchor investors.
Top investors included Ashoka India Equity Investment Trust, Whiteoak Capital, ICICI Prudential Technology Fund, and Bandhan Mutual Fund, among others.
33.9% shares allocated to three mutual funds through eight schemes.
Information and communications technology products distributor Rashi Peripherals' IPO is completely a fresh issue of equity shares to the tune of Rs 600 crore, with no offer-for-sale component. The price band has been fixed at Rs 295-311 apiece.
Jana Small Finance Bank
Allocated 40.3 lakh shares at Rs 414 apiece to 17 anchor investors.
Top investors included Saudi Arabia-based East Bridge Capital, SBI Life Insurance Co., 360 One AMC, and IIFL Turnaround Opportunities Fund, among others.
6% share allocated to Bandhan Mutual Fund through two schemes.
Private equity majors TPG and Morgan Stanley-backed Jana Small Finance Bank's issue consists of primary share sale of Rs 462 crore and the remaining Rs 108 crore as offer for sale. The price band has been set at Rs 393-414 apiece for its Rs 570-crore IPO.
Capital Small Finance Bank
Allocated 33.5 lakh shares at Rs 468 apiece to 19 anchor investors.
Top investors included Nippon Life India, Ashoka India Equity Investment Trust, Whiteoak Capital, and 360 One AMC, among others.
47.8% share allocated to three mutual funds through eight schemes.
The Rs 523-crore IPO is a combination of fresh issue of shares worth Rs 450 crore and an OFS of Rs 73 crore, through which promoters and external investors will dilute 5% of their pre-issue holdings. The Jalandhar-based bank has fixed Rs 445-468 per share as the price band.
