The IPO is to bring public shareholding in the exchange to 25 percent and will provide some of the existing investors a chance to part with or fully monetize their respective stakes. No fresh capital will be raised, a source said.
The IRB Infrastructure Developers’ InvIT Fund has allotted 20.53 crore units on an average of Rs 102 to 28 anchor investors for a sum of Rs 2,094.50 crore, the company said in a statement.
While IPO funding hit a six-year high in 2016 with 26 companies collectively raising over Rs 26,000 crore, an article in the Economic Times pegs IPOs at worth over Rs 20,000 crore to be slated to hit the markets in the coming months.
Out of the near Rs 238 crore issue, only around Rs 100 crore will be utilised in the business for working capital requirement, repayment of debt and some acquisitions in future.