Sadbhav Infra IPO opens on Aug 31; allots 2.04 crore equity shares at Rs.103

The company has allotted 2.04 crore equity shares at Rs.103 aggregating Rs. 210 cr to 7 anchor investors - HDFC MF, Tata MF, Nomura, Morgan Stanley, Amansa, Tata AIA Life & SBI MF.

Aug 29, 2015 12:08 IST India Infoline News Service

IPO
Sadbhav Infrastructure Project Ltd has allotted 2.04 crore equity shares at Rs.103 aggregating Rs. 210 cr to 7 anchor investors - HDFC MF, Tata MF, Nomura, Morgan Stanley, Amansa, Tata AIA Life & SBI MF. Public Issue opens Monday, August 31.

The Company and the Selling Shareholders may, in consultation with the Book Running Lead Managers, consider participation by Anchor Investors in accordance with the SEBI Regulations. The Anchor Investor shall Bid one Working Day prior to the Bid / Issue Opening Date, being August 28, 2015. The Bid/ Issue closes on Wednesday, September 2, 2015.

The Issue is being made through the Book Building Process wherein at least 75% of the Net Issue shall be Allotted on a proportionate basis to Qualified Institutional Buyers (“QIBs”), provided that the Company and the Selling Shareholders may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Issue Price. If at least 75% of the Net Issue cannot be Allotted to QIBs, then the entire application money shall be refunded forthwith.

 

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