Anchor investor participation
The issue witnessed strong demand from both foreign portfolio investors and domestic mutual funds. Among the key participants were Whiteoak Capital, 360 One Flexicap Fund, Morgan Stanley Asia, Citigroup Global Markets Mauritius, LC Pharos Multi Strategy Fund, Finavenue Capital, and Al Mehwar Commercial Investments.Out of the total allocation, domestic mutual funds cornered 28.43 lakh shares, accounting for 38.36% of the anchor book. Whiteoak Capital’s various schemes, including its India Opportunities Fund, Flexi Cap Fund, Special Opportunities Fund, Mid Cap Fund, Multi Cap Fund, and ELSS Tax Saver Fund, featured prominently in the allocation.
Largest allocations
Whiteoak Capital India Opportunities Fund received 9.80 lakh shares worth Rs 20 crore, while 360 One Flexicap Fund was allotted 8.82 lakh shares worth Rs 18 crore. Al Mehwar Commercial Investments LLC (Wanda) took 8.33 lakh shares worth Rs 17 crore, and LC Pharos Multi Strategy Fund subscribed to 7.35 lakh shares worth Rs 15 crore.
About the IPO
The IPO comprises a fresh issue of shares worth Rs 300 crore and an offer-for-sale of shares worth Rs 204 crore. The company has set a price band of Rs 194–204 per share, with a lot size of 73 shares. The issue will close on September 26, with tentative listing on October 1.
as a Reliable and Trusted News SourceProceeds from the fresh issue will be used to fund expansion of its manufacturing facilities at Ghiloth in Rajasthan and Mambattu in Andhra Pradesh, repay borrowings, and for general corporate purposes.
