Rishabh Instruments IPO: Rishabh IPO raises ₹147 crore from anchor investor; details here
₹147 crore from anchor investors today. Rishabh Instruments IPO will open for subscription tomorrow (Wednesday, August 30), and will close on Friday, September 1.
The allocation to anchor investors for Rishabh Instruments IPO was scheduled to take place today (Tuesday, August 29). The company reported to the stock exchanges that it had allotted 33,38,656 shares to anchor investors on Tuesday at a price of ₹441 per share.
"The IPO committee of the company at its meeting held on Tuesday, August 29, 2023 and the selling shareholders, in consultation with book running lead managers to the offer, have finalised allocation of 33,38,656 equity shares to anchor investors at anchor investor allocation price of ₹441 equity share (including share premium of ₹431 per equity share)," the company said in an exchange filing today. Among the investors who took part in the anchor were Tata Mutual Fund, Ashoka India Equity Investment Trust PLC, Nippon India Mutual Fund, Sundaram Mutual Fund, Bandhan Mutual Fund, Quant Mutual Fund, and 3P India Equity Fund 1.
Out of the 33,38,656 equity shares allotted to anchor investors, 25,60,390 equity shares were distributed to 6 domestic mutual funds via a total of 13 schemes for a total of around ₹113 crore, or 76.69% of the total anchor book size. Also Read: Aeroflex Industries IPO allotment tomorrow: Latest GMP, here's how to check allotment status Rishabh Instruments IPO is made up of fresh issue that totals to ₹75 crore and offer for sale (OFS) portion aggregates to 9.43 million equity shares on upper band price through the Offer, which translates to ₹415.78 crore.
The total issue size comes to ₹490.78 crore. The net proceeds from the offer will be used to finance the cost towards expansion of
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