Innova Captab Limited raises ₹171 crore from anchor investors

Innova Captab Limited, on Wednesday, garnered 171 crores from anchor investors ahead of its initial public offering that opens for public subscription on Thursday, December 21, 2023. The company informed the bourses that it allocated 3,816,963 equity shares at 448 per share on Wednesday, December 20, 2023, to anchor investors.

Foreign and Domestic Institutions who participated in the anchor were ICICI Prudential MF, Kotak Mahindra MF, Ashoka White Oak MD, SBI Life Insurance, 360 One MF, Bandhan MF, Canara Robeco MF, Aditya Birla Sun Life Insurance, Edelweiss MF, ITPL-Invesco MF, & others.

Out of the total allocation of 3,816,963 equity shares to the anchor investors, 1,713,030 equity shares were allocated to 6 domestic mutual funds through a total of 8 schemes amounting to 76.74 crore (approx.) i.e. 44.88% of the Total Anchor Book Size.

ICICI Securities Limited, and JM Financial Limited are the book running lead managers and KFin Technologies Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.

The public isse will open for bidding on Thursday, December 21, 2023, and will close on Tuesday, December 26, 2023. The price band for the offer has been determined at 426 – 448 per equity share.

The Offer of face value of 10 per equity share consists of a fresh issue of equity shares worth up to 320 crore and an offer-for-sale (OFS) up to 55,80,357 equity shares by Promoter and selling shareholders

The IPO will fetch 570 crore at the upper end of the price band. Investors can bid for a minimum of 33 equity shares and in multiples of 33 equity shares thereafter.

The offer is being made through the Book Building Process, wherein not more than 50% of the offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

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Published: 20 Dec 2023, 08:48 PM IST

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