Anchor Investors invests in Samvardhana IPO

Anchor Investors (AIs) portion in the SMFL IPO of 1,93,06,900 equity shares has been subscribed by 8 AIs at Rs 115 per equity share, according to BSE. 

The issue consists of a fresh issue of Rs 1,413 crore and an offer for sale of Rs 337.5 crore by Radha Rani Holdings Pte limited. The issue includes a reservation of up to 5% of the issue size for eligible shareholders, as per DRHP.

Samvardhana is an integrated design and manufacturing company providing full system solutions to diverse industries. Its main focus is the automotive industry, wherein it supplies components to automotive original equipment manufacturers.

The company intends to use issue proceeds (only fresh issue money) for funding pre-payment and repayment of debt facilities availed by company and its subsidiaries (with Rs 356 crore); funding strategic investments (with an outlay of Rs 660 crore) and funding investments in rear-view vision systems business (with cost of Rs 164 crore).