Test and measuring instruments maker Rishabh Instruments raised Rs 147.2 crore via anchor book on August 29, ahead of the public issue opening.
A total of 16 investors made investments in the company via anchor book including HDFC Mutual Fund, Nippon Life, Sundaram Mutual Fund, Bandhan Mutual Fund, Aditya Birla Sun Life Insurance, Quant Mutual Fund, Tata Multicap Fund, and 3P India Equity Fund I.
The Maharashtra-based company in its filing to exchanges said it has finalised allocation of 33,38,656 equity shares to anchor investors, at a price of Rs 441 per share.
"Six mutual funds have applied through a total of 13 schemes in the anchor book," the company said.
Rishabh Instruments will open its Rs 490.78-crore public issue for subscription on August 30, with a price band of Rs 418-441 per share.
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The IPO comprises a fresh issuance of shares worth Rs 75 crore by the company, and an offer-for-sale of Rs 415.78 crore by promoters, and investor SACEF Holdings II.
The book-built offer will close on September 1, 2023.
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The company will utilise net fresh issue proceeds for the expansion of its Nashik manufacturing facility, and general corporate purposes.
The energy efficiency solution company provides electrical measurement and process optimisation equipment used across industries including power, automotive and industrial sectors.
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The firm also provides complete aluminium high-pressure die casting solutions for customers, machining and finishing of precision components. It claimed to be the global leader in the manufacturing and supply of analogue panel meters.
DAM Capital Advisors, Mirae Asset Capital Markets (India), and Motilal Oswal Investment Advisors are the merchant bankers for the issue.
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