Navkar Corporation to get Rs 180 cr from anchor investors

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26 Aug, 2025 12:21

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Moneycontrol Bureau

The Rs 600-crore IPO of Navkar Corporation has received good response from anchor investors on Friday (August 21). The Maharashtra-based container freight station (CFS) operator will get Rs 180 crore through anchor investors' portion.

The company has decided to allot more than 1.16 crore equity shares to 15 anchor investors like Morgan Stanley, Nomura, HDFC MF, SBI MF, Reliance MF, Franklin, IDFC, Sundaram MF, L&T MF, Kotak MF, Prime India, Amundi, Ashbunon India, Abudhabi Investment Authority, etc.

The allotment will take place at Rs 155 per share, the upper end of the price band (147-155).Also read - Navkar Corporation IPO opens: Should you subscribe?

The public issue has opened for subscription today, which comprises a fresh issue aggregating up to Rs 510 crore and an offer for sale aggregating up to Rs 90 crore by Siddhartha Corporation Private Limited, a member of the promoter group.

Navkar Corporation is a CFS operator in India with three CFSs-, Ajivali CFS I and Ajivali CFS II at Ajivali and Somathane CFS at Somathane, which are strategically located in Panvel, Maharashtra, in close proximity to the JN Port, the largest container port in India. As of May 31, 2015, its CFSs had an aggregate installed handling capacity of 310,000 TEUs per annum. It has a private railway freight terminal (PFT) which allows it to load and unload cargo from container trains operating between Somathane CFS and the JN Port and to transport domestic cargo to and from inland destinations on the Indian rail network.

The offer will close on Wednesday, August 26, 2015, for all bidders. The minimum bid lot is 95 equity shares and in multiples of 95 equity shares thereafter.

Equity shares of the company are proposed to be listed on BSE and NSE. The joint global coordinators & book running lead managers to the issue are Axis Capital Limited, Edelweiss Financial Services Limited and SBI Capital Markets Limited.Posted by Sunil Shankar Matkar