The anchor allocation bid saw participation from global funds like Goldman Sachs, Nomura Trust & Banking Co, Scotland-based Aberdeen Standard SICAV I – Indian Equity Fund and TOCU Europe III S.A R.L. fund.
Out of the total allocation to the anchor investors, over 1.58 crore equity shares representing 29.56% of the quota were allocated to 6 domestic Mutual Funds through a total of 17 schemes.
HDFC Mutual Fund’s three schemes have invested in the issue while 7 schemes of Motilal Oswal MF also did and were allocated shares by the company. Bandhan MF and ITI MF were also investors in the issue.
The company has already announced the price band for the issue at Rs 223- Rs 235 per equity share which includes premium of Rs 225 per equity shares with face value of Rs 10 per share.
IPO structure
The IPO comprises a complete fresh issue of 11.91 crore shares, aggregating up to Rs 2,800 crore. There is no offer-for-sale component.
Minimum investment and lot size
Retail investors can apply for a minimum of one lot, which includes 63 shares. At the upper price band, this translates to an investment of Rs 14,805. For small HNIs, the minimum application is 14 lots or Rs 2.07 lakh.
Use of funds
The proceeds will be used to repay or prepay certain borrowings, fund the acquisition of a cryogenic LPG terminal at Mangalore, and for general corporate purposes.
Financial performance
In FY24, the company posted a revenue of Rs 570.12 crore and a net profit of Rs 86.54 crore. For nine months ended Dec 2024, PAT stood at Rs 85.89 crore.
Book running lead managers
ICICI Securities, BNP Paribas, IIFL Securities, Jefferies India, and HDFC Bank are managing the issue, while Link Intime is the registrar.
Also Read: Leela Hotels IPO: Brookfield-backed firm raises Rs 1,575 crore from Goldman Sachs, Fidelity, 45 other anchor investors(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
