Retail-focused affordable housing finance company India Shelter Finance Corporation raised Rs 360 crore from anchor investors on December 12, a day before the issue opening.
The public issue will open on December 13, and the final day for bidding on the offer will be December 15.
As per the filing to the exchanges, 38 investors participated in the anchor book, including marquee names such as Goldman Sachs, Massachusetts Institute of Technology, NHIT, and Steinberg India.
Among others, ICICI Prudential Mutual Fund, Nippon Life India, Kotak Mahindra Trustee, Axis Mutual Fund, UTI Mutual Fund, Mirae Asset, Whiteoak Capital, LGT Select Funds, Tata Mutual Fund, Franklin India, Motilal Oswal Mutual Fund, Edelweiss Trusteeship, Bandhan Financial Services, Quant Mutual Fund, and Axis Growth Avenues AIF 1 also invested in the company via anchor book.
Also read: India Shelter Finance IPO: 10 things to know before subscribing to Rs 1,200 crore issue
India Shelter said it has finalised the allocation of 73,02,229 equity shares to anchor investors for Rs 493 per equity share.
Insurance companies like SBI Life Insurance Company, ICICI Prudential Life Insurance Company, and Max Life Insurance Company also made investments in India Shelter.
Insurance companies like SBI Life Insurance Company, ICICI Prudential Life Insurance Company, and Max Life Insurance Company also invested in India Shelter.
Also read: India Shelter Finance IPO: Should you subscribe to Rs 1,200 crore issue?
"Of the total allocation of 73,02,229 equity shares, 41,69,370 shares, i.e. 57.10 percent of the total allocation to anchor investors, were allocated to 14 domestic mutual funds through a total of 25 schemes," the company said.
The WestBridge Capital and Nexus Venture Partners-based affordable housing financer intends to raise Rs 1,200 crore via the initial public offering. The price band for the offer has been fixed at Rs 469-493 per share.
The IPO comprises a fresh issue of shares worth Rs 800 crore by the company and an offer-for-sale (OFS) of Rs 400 crore worth of shares by existing shareholders.
Also read: Inox India sets IPO price band at Rs 627-660, aims to raise Rs 1,459 crore from OFS
Catalyst Trusteeship Limited (as trustee of Madison India Opportunities Trust Fund), Nexus Ventures III, Catalyst Trusteeship (as trustee of MICP Trust), Madison India Opportunities IV, and MIO Starrock are the selling shareholders in the OFS.
The net fresh issue proceeds will be used mainly for meeting future capital requirements for lending, which amounts to Rs 640 crore, and the balance funds will be kept for general corporate purposes.
The Gurugram-based company compares itself with Aptus Value Housing Finance India, Aavas Financiers, and Home Finance Company India.
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