Kaynes Technology India Limited (KTIL) on Wednesday said it has collected Rs 257 crore from anchor investors ahead of its initial share sale that opens for public subscription on Thursday.
The company has allotted 43.76 lakh equity shares to anchor investors at Rs 587 apiece, aggregating to Rs 257 crore, according to a circular uploaded on the BSE website.
Nomura, Goldman Sachs, ICICI Prudential Mutual Fund (MF), Axis MF, Aditya Birla Sun Life MF, Tata MF, HDFC MF and WhiteOak Capital are among the anchor investors, it added.
The company IPO comprises fresh issue of equity shares worth Rs 530 crore and an Offer For Sale (OFS) of up to 55.85 lakh equity shares by a promoter and an existing shareholder.
The OFS comprises sale of 20.84 lakh equity shares by promoter Ramesh Kunhikannan and 35 lakh equity shares by existing shareholder Freny Firoze Irani.
Proceeds from the fresh issue will be used to repay debt, funding capital expenditure for its manufacturing facilities at Mysore and
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