Popular Vehicles and Services IPO: Anchor investors pick shares worth ₹180 crore ahead of public issue

livemint.com:

₹180.17 crore from anchor investors on March 11, a day before the Kerala-based company's IPO will open for subscription. In an exchange filing to the exchanges on Monday, the company disclosed the allocation of 61,07,325 equity shares to anchor investors at a price of ₹295 per equity share.

Also read: Popular Vehicles & Services IPO: From price band to GMP, here are 10 things to know about the upcoming public issue "The IPO Committee of the Company at its meeting held on March 11. 2024, in consultation with ICICI Securities Limited.

Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and Centrum Capital Limited ("the Book Running Lead Managers"). has linalized allocation of 61.07.325 Equity Shares, to Anchor Investors at Anchor Investor Allocation Prive (which was decided by the Company in consultation with the Book Running Lead Managers) of 3 295/- per Equity Share (including share premium of 2 293/- per Equity Share," the company said.

Prominent investors such as HDFC Mutual Fund, Quant Mutual Fund, HSBC Global Investment Funds, Lionglobal Investment Funds, BofA Securities Europe SA, Pinebridge Global Funds, and ITI Mutual Fund made investments in the company through the anchor book. Additionally, Citigroup Global Markets Mauritius, SBI General Insurance Company, LC Pharos Multi-Strategy Fund, 3P India Equity Fund, Integrated Global Strategies Asia, and Copthall Mauritius Investment were also among the participants in the book.

HDFC Mutual Fund emerged as the largest investor in the Popular Vehicles and Services IPO, securing equity shares valued at ₹74 crore through the anchor book process. "Out of the total allocation of 61,07,325 equity shares to anchor investors, 38,14,148 equity