Andhra Pradesh-based Sai Silks Kalamandir has raised Rs 360.3 crore from 26 anchor investors on September 18, a day before the issue launch.
Global marquee investors Societe Generale, Citigroup Global Markets Mauritius, HSBC and BNP Paribas Arbitrage participated in the anchor book.
Among others, SBI Mutual Fund, ICICI Prudential Mutual Fund, Whiteoak Capital, Eastspring Investments India, HDFC Mutual Fund, Kotak Mahindra Trustee, Aditya Birla Sun Life Trustee, Abakkus Growth Fund and Mirae Asset India also invested in the company via anchor book.
The Nagakanaka Durga Prasad Chalavadi-founded company informed exchanges that it has finalised allocation of 1,62,29,707 equity shares to anchor investors, at a price of Rs 222 per share.
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Further, the company said out of the total allocation of shares to anchor investors, 1,17,24,694 shares were allocated to 8 domestic mutual funds through a total of 16 schemes.
With a network of 54 stores in Andhra Pradesh, Telangana, Karnataka and Tamil Nadu, Sai Silks is planning to raise Rs 1,201 crore via maiden public issue at the upper price band.
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The public issue comprises a fresh issue of Rs 600 crore worth of shares by the company and an offer-for-sale (OFS) of 2,70,72,000 equity shares by the promoter group.
The price band for the offer, which opens for subscription from September 20-22, has been fixed at Rs 210-222 per share.
The retailer of ethnic apparel, particularly sarees in south India, will be using net fresh issue proceeds for the setting up of 30 new stores at a cost of Rs 125.08 crore, two warehouses with a spend of Rs 25.4 crore and working capital requirements amounting to Rs 280.07 crore. The company will also repay its Rs 50 crore debts via issue proceeds.
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