Western Carriers said in a statement Thursday that the company has mobilised ₹148 crore from anchor investors a day ahead of its initial public offering opening for subscription.
The company has allotted 85,96,743 shares at upper price band of ₹172 to 15 anchor investors, the exchange filing said.
"Western Carriers (India) Limited has allotted 85,96,743 Equity Shares to 15 anchor Investors and mobilised ₹148 crore ahead of company's proposed IPO at the upper price band of ₹172 per equity share (including premium of ₹167 per equity share) with face value of ₹5 per share," the filing said.
Kotak Mahindra, Motilal Oswal, Aditya Birla Sun were among the participants in the anchor book round.
The company further informed that out of the total allotment of 85,96,743 equity shares to the anchor investors, 39,92,952 equity shares i.e. 46.45% of the total allotment to anchor investors, were allotted to 4 domestic mutual funds, which have applied through a total of 6 schemes.
Western Carriers IPO details
It is expected to open the bidding for the IPO of Western Carriers India from Friday, September 13 till Wednesday, September 18.
By this share offering of 2.87 crore shares issue, the company plans to mobilize ₹492.88 crore. Of this offer for sale of 0.54 crore shares is worth ₹92.88 crore, while it is issuing up to 2.33 crore new shares aggregating ₹400 crore.
The retail investors can invest in a lot size of 87 shares. The IPO price band has been set between ₹163 and ₹172 per share. For one lot, the price at the top of the range will be ₹14,964. Retail investors can apply for a maximum of 13 lots.
The distribution of the net offer is as follows: 15% to non-institutional investors, 35% to retail investors, and 50% to qualified institutional buyers.
The IPO registrant is Link Intime India Private Ltd. For the book-running lead managers, JM Financial Limited and Kotak Mahindra Capital Company Limited are assigned.
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