Hyderabad-based MTAR Technologies raised ₹179 crore from 15 anchor investors a day prior to its issue opening for public bidding. The company informed the bourses that it has allocated 3.11 million shares at Rs. 575 per share on 2 March, to the anchor investors.
The issue will open on Wednesday and closed on 5 March. The company plans to raise ₹597 crore via IPO. It has fixed a price band of ₹574-575 per share.
Nomura Funds Ireland, Jupiter South Asia Investment, White Oak Capital and Goldman Sachs India, four foreign investors who invested in the anchor, allotted 0.17 million shares each for approximately ₹10 crore.
Amongst the domestic investors, SBI Mutual Fund and Axis Mutual Fund picked up the largest allocation of 13.67% each for approximately ₹24.5 crores.
Other domestic institutions who were allocated shares were – ICICI Prudential Mutual Fund, HDFC Mutual Fund, Aditya Birla Sunlife Mutual Fund, Kotak Mahindra Mutual Fund, Nippon India Mutual Fund, Franklin Templeton Mutual Fund, Sundaram Mutual Fund, Invesco Mutual Fund and Aditya Birla Sun Life Insurance.
The article was first published on livemint.com