Bajaj Corp IPO's anchor investors portion fully subscribed

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Bajaj Corp IPO's anchor investors portion fully subscribed

The 45 lakh shares Initial Public Offer (IPO) of Bajaj Corp, a part of Bajaj Group, will open for subscription on August 2, 2010

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The 45 lakh shares initial public offer (IPO) of Bajaj Corp, a part of Bajaj Group, will open for subscription on August 2, 2010. It intends to raise Rs 283.50 crore at lower end of price band and Rs 297 crore at higher price band.

Anchor investors, a part of qualified institutional investors' (QIB) portion that opens for one-day before issue opening, has been fully subscribed. The company has received commitment for Rs 52.65 crore as against finalisation of allocation of 8.1 lakh equity shares to anchor investors at a price of Rs 650 per share while the price band is at Rs 630-660 per share. Anchor investors included Goldman Sachs, Franklin Templeton, Reliance Capital, Axis MF, ICICI Prudential etc.