Archean Chemical IPO raises Rs 658 crore from anchor investors

Archean Chemical Industries, whose initial public offering (IPO) is due to begin today, has secured Rs 658 crore from 42 anchor investors at a price band of Rs 407 per equity share.

The manufacturer of specialized marine chemicals has distributed 1,61,67,991 equity shares to anchor investors such as SBI Mutual Fund, Nippon India Fund, ICICI Prudential, HDFC Mutual Fund, Goldman Sachs Fund, Ashoka India Opportunities Fund, DSP Fund, IIFL Funds, Kotak Fund, Motilal Fund, Tata Mutual Fund, Theleme India Fund, and Baroda.

Abu Dhabi Investment Authority, Government Pension Fund Global, Societe Generale, and BNP Paribas are among the foreign investors.

A total of 1,61,67,991 equity shares were allotted to anchor investors; however, 98,28,072 shares—or 61% of the total—were distributed to 10 domestic mutual funds via a total of 21 schemes.

From Wednesday, November 9, until Friday, November 11, the public may subscribe to the IPO.

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