Vidya Wires raises around Rs 90 crore from anchor investors ahead of Rs 300 crore IPO

Bandhan Small Cap Fund emerged as the largest anchor investor, receiving 46.15 lakh shares, representing 26.67 percent of the anchor book, Bank of India Small Cap Fund followed with an allocation of 36.54 lakh shares, amounting to 21.11 percent of the anchor portion.

Vidya Wires Limited has raised Rs 90 crore from anchor investors ahead of its initial public offering. The company allotted 1,73,07,991 equity shares at an anchor allocation price of Rs 52 per share, which includes a premium of Rs 51. Anchor investors include marquee investors like LIC Mutual Fund, Bandhan Mutual Fund, Bank of India MF, Alchemy, MAIQ, Maybank Securities.

The anchor book attracted 10 institutional investors, with domestic mutual funds accounting for 77.78 percent of the total allocation. These domestic funds invested through seven schemes across three fund houses.

Bandhan Small Cap Fund emerged as the largest anchor investor, receiving 46.15 lakh shares, representing 26.67 percent of the anchor book. Bank of India Small Cap Fund followed with an allocation of 36.54 lakh shares, amounting to 21.11 percent of the anchor portion.

Other significant participants included Bank of India Business Cycle Fund, which was allotted 9.61 lakh shares; LIC MF Infrastructure Fund, which received 16.34 lakh shares; LIC MF Manufacturing Fund, which picked up 14.42 lakh shares; and LIC MF Small Cap Fund, which secured 7.69 lakh shares. LIC MF Value Fund received 3.84 lakh shares . Alchemy Emerging Leaders of Tomorrow – Series 2 was allotted 19.23 lakh shares while MAIQ Growth Scheme – Long Only and Maybank Securities each received 9.61 lakh shares.

Overall, out of the total 1.73 crore shares allotted to anchor investors, 1.34 crore shares were allocated to domestic mutual funds.

Vidya Wires, a manufacturer of super-enamelled copper wires, insulated copper conductors and related products, is set to list on December 10, the IPO will open from December 3 to December 5. The company plans to use the proceeds for expansion, working capital requirements and other corporate purposes.

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