Shanti Gold International Ltd. raised Rs 108 crore from anchor investors on Thursday ahead of its initial public offering. The company allotted 54.28 lakh shares at Rs 199 apiece to 15 anchor investors.
Societe Generale- ODI, Wealthwave Capital Fund, Rajasthan Global Securities Pvt., J4S Venture Fund- I and Shine Star Build Cap. Pvt. got the highest allocation of 9.268%. Vijay Growth Fund got the second highest allotment of 8.43%.
None of the equity shares were allocated to domestic mutual funds.
The company had filed its draft red herring prospectus with the Securities and Exchange Board of India to raise up to Rs 360 crore through an initial public offering.
The price band for the IPO is set between Rs 189 and Rs 199 per share. The company will raise the approved funds via fresh issue of shares with no offer for sale component available, as per the red herring prospectus.
The net proceeds from the fresh issue will be utilised for various purposes. The company will deploy Rs 200 crore to fund working capital requirements, Rs 46 crore for capital expenditure towards setting up a new manufacturing facility in Jaipur, and Rs 17 crore for repayment of debt.
The proposed Jaipur facility will have an installed production capacity of 1,200 kg, which will augment existing capacity to a total of 3,900 kg, the RHP noted.
Choice Capital Advisors Pvt. Ltd. India is the leading bookrunner, while Bigshare Services Pvt. Ltd. is the registrar for the offer.
Shares of Shanti Gold International will debut on the BSE and National Stock Exchange.
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