The flexible intermediate bulk containers maker Shree Tirupati Balajee Auto Trading Company has raised ₹50.1 crore from 6 institutional investors on September 4 ahead opening of the IPO. The issue is now opened for subscription for all and will conclude on September 9.
The major investors of anchor book in the Madhya Pradesh-based company were NAV Capital Emerging Star Fund, Chanakaya Opportunities Fund I, and Next Orbit Growth Fund III invested ₹10 crore each.
Among the anchor investors were Saint Capital Fund, Steptrade Revolution Fund, and Astrone Capital VCC – Arven, which collectively purchased shares worth ₹20.9 crore.
In its filing to the exchanges, the company announced that it has allocated 61.32 lakh equity shares to anchor investors at a price of ₹83 per share.
The initial public offer comprises fresh issue of equity shares worth ₹122.42 crore and an offer-for-sale of shares worth ₹47.23 crore by Binod Kumar Agarwal.
The company will use fresh issue proceeds towards repayment of debt, working capital requirements and other general corporate purposes.
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