India Shelter Finance Raises Rs 360 Crore From Anchor Investors Ahead Of IPO
The company allotted 73,02,229 shares at Rs 493 apiece to 38 anchor investors.
![<div class="paragraphs"><p>The partnership, announced late on Wednesday, will explore the feasibility of establishing various renewable projects. (Source: Unsplash)</p></div>](https://media.assettype.com/bloombergquint%2F2023-06%2F8542fd97-9043-4241-8947-23c2dea57cab%2FStock_Unsplash.jpg?rect=0%2C0%2C870%2C489&auto=format%2Ccompress&w=200)
India Shelter Finance Corp. has raised Rs 360 crore from anchor investors ahead of its initial public offering on Dec. 13.
The company allotted 73,02,229 shares at Rs 493 apiece to 38 anchor investors.
It included Nippon Life India Asset Management Ltd., Motilal Oswal Financial Services Ltd., Edelweiss Trusteeship Co., SBI Life Insurance Co., and Max Life Insurance Co., among others.
Nippon Life India secured 3.6% of the allocation, while Kotak Banking and Financial Service Fund and Kotak Multi Asset Allocation Fund each netted 2.8%.
Fourteen domestic mutual funds have applied through a total of 25 schemes, the company said in an exchange filing. They have collectively netted 57.10% of the anchor portion of Rs 206 crore.
About The IPO
India Shelter Finance is set to launch its initial public offering, with the aim to raise Rs 1,200 crore.
The IPO will be a combination of a fresh issue and an offer for sale. While the fresh issue will comprise 1.62 crore shares for Rs 800 crore, the OFS will have 0.81 crore shares for Rs 400 crore.
The IPO will open on Dec. 13 and close on Dec. 15.