The anchor allocation in SME IPOs appears to have become a club of select set of institutional investors as data shows that a few handful of investors are being allocated shares in most of the public issues in the segment dedicated for small and medium enterprises (SMEs).
The anchor book saw participation from only three investors, Saint Capital Fund, Chhatisgarh Investments Ltd and Neomile Growth Fund - Series I.
The funds were raised a day before its initial share-sale that opened for public subscription on Friday. The issue will conclude on November 15.
The underperformers were mainly new-age companies that had weak cash flows or those that were priced aggressively, according to one analyst.
The company's Initial Public Offering (IPO) will be entirely an Offer For Sale (OFS) of 38,672,208 equity shares by promoters and investors. It will open for subscription on October 10.
The company has decided to allocate 71.28 lakh equity shares to anchor investors at Rs 510 apiece, aggregating the transaction size to Rs 363.53 crore, according to a circular uploaded on the BSE website.
Speciality chemicals company Aether Industries on Monday said it has raised a little over Rs 240 crore from anchor investors ahead of its initial share-sale, which opens for public subscription on Tuesday.
Delhivery cut the size of the IPO to Rs 5,235 crore from Rs 7,460 crore planned earlier. It will raise Rs 4,000 crore via a fresh issue of shares.
The IPO will open on May 2 for anchors and will run from May 4-9 for the public.
The funding will be reportedly channelled to provide a major fillip to the startup's expansion strategy, product development, and establishing international footing. Founded in 2019, GIVA aims to solidify its presence as the leader in the silver jewellery segment.
The new rules will provide comfort for investors in public issues, especially issues of new age companies.
SEBI also sought comments whether additional disclosures on fund utilisation is needed or if SEBI needs longer lock in for anchor investors.
Anchor investors will buy a portion of Life Insurance Corporation of India (LIC) shares, meant for qualified institutional buyers (QIPs) “to help measure market demand”.
It has allotted 5,56,43,820 shares to 18 anchor investors at a price of Rs 56 per scrip, garnering Rs 311.61 crore, the company said in a statement.
The company's IPO committee has finalised allocation of 20,80,459 equity shares to 15 anchor investors at Rs 859 apiece, also the upper price band for the offer, Amber Enterprises informed the stock exchanges.
The shares would be alloted to 15 anchor investors at Rs 938, which is the upper end of the price band, the company informed to the stock exchanges.
The company has finalised allocation of more than 10.18 equity shares at a price of Rs 1,766 apiece to the anchor investors, according to a filing submitted to the BSE.
The company's initial share sale would commence tomorrow and close on March 24.
CL Educate today raised nearly Rs 72 crore from anchor investors by issuing shares at a price of Rs 502 apiece.
D-Mart parent Avenue Supermarts on Tuesday said that it has raised Rs 561 crore through allotment of shares to anchor investors as part of the anchor book allocation.
Company made the announcement in a public notice on Wednesday; plans to raise Rs 1,870 crore through the issue which opens on March 8 and closes on March 10, 2017.
Company made the announcement in a public notice on Wednesday; plans to raise Rs 1,870 crore through the issue which opens on March 8 and closes on March 10, 2017.
Company made the announcement in a public notice on Wednesday; plans to raise Rs 1,870 crore through the issue which opens on March 8 and closes on March 10, 2017.
Reliance Mutual Fund CPSE ETF issue, which was opened for Anchor investors today, got oversubscribed by over 4 times, raising Rs 6,000 crore, by anchor investors.
The anchor investors are Goldman Sachs India, Nomura Trust and Banking, SBI Mutual Fund, DSP BlackRock and ICICI Prudential Mutual Fund.