Shankara Building raises Rs 103.5 cr from anchor investors even as IPO opens
DSIJ Intelligence / 22 Mar 2017
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Shankara Building Products raised a sumptuous amount of Rs 103.5 crore from the investors. At a price of Rs 460 each, the company issued about 22.50 lakh shares to 16 anchor investors.
Ahead of the initial share offering, Shankara Building Products raised a sumptuous amount of Rs 103.5 crore from the investors.
The share sale to begin on March 22, 2017 and conclude on March 24, 2017, will provide a price band of Rs 440-460 per share, also comprising of up to 25 per cent of post offer paid-up equity share capital of the company.
The IPO consists of the issuance of shares for Rs 45 crore and an offer for sales of over 65 lakh shares.
While, the company successfully raised funds from a fleet of anchor investors including Franklin India Smaller Companies Fund, DSP BlackRock Core Fund, ICICI Prudential Life Insurance Company and Reliance Nippon Life Insurance Company Ltd.
At a price of Rs 460 each, the company issued about 22.50 lakh shares to 16 anchor investors. While, the book running lead manager to the offers were IDFC Bank Ltd, Equirus Capital Pvt Ltd and HDFC Bank Ltd.
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