Life sciences company Tarsons Products on November 12 has mobilised Rs 305.96 crore from 32 anchor investors, ahead of IPO. The offer opens November 15 and the issue closes November 17.
The company in its BSE filing said it has finalised allocation of 46,21,757 equity shares to anchor investors at a price of Rs 662 per equity share.
Foreign investors who participated in the anchor book were Monetary Authority of Singapore, Government of Singapore, First Sentier Investors, Pinebridge Global Funds, Abu Dhabi Investment Authority, Theleme India Master Fund, and East Bridge Capital.
ICICI Prudential, Aditya Birla Sun Life, Nippon Life, Sundaram Mutual Fund, L&T Mutual Fund, Edelweiss Trusteeship and Reliance General Insurance among domestic investors who invested in the company.
Tarsons Products is planning to raise Rs 1,024 crore through its public issue that comprises fresh issuance of Rs 150 crore and an offer for sale (OFS) of 1.32 crore equity shares by promoters and an investor.
As a part of the offer for sale, promoters — Sanjive Sehgal and Rohan Sehgal, and investor Clear Vision Investment Holdings Pte Ltd will divest their shareholding. The offer include a reservation of 60,000 equity shares for employees.
The price band for the offer has been fixed at Rs 635-662 per share.
The net proceeds from fresh issue will be utilised for repaying of debt, and capital expenditure for the new manufacturing facility at Panchla in West Bengal.
ICICI Securities, Edelweiss Financial Services and SBI Capital Markets are the book running lead managers to the issue.
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