Cybersecurity solutions provider Meta Infotech mobilises Rs 22.6 crore from 15 institutional investors ahead of IPO

Cybersecurity solutions provider Meta Infotech IPO

Cybersecurity solutions provider Meta Infotech has raised Rs 22.6 crore from 15 institutional investors via anchor book on July 3, a day before the IPO opening.

The Rs 80.18-crore initial public offering (IPO) will open for subscription on July 4, and close on July 8. The price band for the book-building issue is Rs 153-161 per share.

The Mumbai-based company has finalised allocation of 14.02 lakh shares to anchor investors at a price of Rs 161 per share.

Viney Growth Fund is the largest investor amongst anchor investors, acquiring 2.48 lakh shares worth Rs 4 crore, followed by Mint Focussed Growth Fund which invested Rs 2.5 crore in Meta Infotech.

Other anchor investors included Finavenue Capital Trust, Negen Undiscovered Value Fund, Innovative Vision Fund, Steptrade Revolution Fund, Sunrise Investment Trust, and Vijit Growth Fund.

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The Meta Infotech IPO comprises fresh issue of 12.45 lakh shares worth Rs 20 crore, and an offer-for-sale of 37.35 lakh shares worth Rs 60.1 crore by promoter Venu Gopal Peruri.

The fresh issue proceeds will be utilised establishment of new office premises, and setting up of an interactive experience centre at Mumbai offices. Further, funds will be used for repaying debt, and general corporate purpose.

Hem Securities is acting as the sole merchant banker for the Meta Infotech IPO.