GK Energy, which provides engineering, procurement and commissioning services for solar-powered agricultural water pumps, has raised Rs 139.3 crore from 12 anchor investors on September 18, a day prior to the IPO opening for public subscription.
The Rs 464.3-crore worth initial public offering will open for all categories of investors on September 19, with price band of Rs 145-153 per share, while the last day of bidding will be September 23.
The company will issue fresh shares worth Rs 400 crore, while promoters will sell 42 lakh shares worth Rs 64.26 crore at the upper price band via offer-for-sale.
"...has finalised allocation of 91.03 lakh shares to anchor investors at Rs 153 per share," GK Energy in its filing to exchanges said.
Pinebridge Global Funds, 360 ONE MF, HSBC MF, and Prashant Jain's 3P India Equity Fund invested Rs 22.5 crore each against 14.7 lakh shares each in the anchor book.
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Motilal Oswal AMC, Bandhan MF, Edelweiss, Nuvama, Citigroup, and Societe Generale were among other investors participated in the anchor book.
"Out of the total allocation of 91.03 lakh shares to anchor investors, 42.71 lakh shares were allocated to five domestic mutual funds," GK Energy said.
The Pune-based company intends to utilise Rs 322.46 crore of net fresh issue funds for its long term working capital requirements, and the remaining amount for general corporate purposes.
IIFL Capital Services, and HDFC Bank are managing the GK Energy IPO as merchant bankers.
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