EAAA India Alternatives has raised Rs 360 crore from anchor investors ahead of its initial public offering, which opens for subscription on Oct. 26. The company is looking to raise Rs 1,200 crore through the IPO.
Anchor Investors Put In Rs 360 Crore
EAAA India Alternatives raised Rs 360 crore through its anchor investor allocation ahead of the IPO. The company allotted 21,62,161 equity shares at Rs 1,665 each, which is the upper end of the price band for the public issue.
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Mutual funds accounted for 61% of the anchor book, with 10 mutual funds participating in the allocation. These included HDFC Mutual Fund, ICICI Prudential Mutual Fund, SBI Mutual Fund, Nippon India Mutual Fund, and Kotak Mahindra Mutual Fund.
The anchor allocation also attracted overseas institutional investors, including Norway's Government Pension Fund Global and asset manager Schroders. Domestic investment firms Carnelian, 360 ONE, Unifi, and Nuvama were among the other participants, indicating interest from both domestic and international investors ahead of the public offering.
EAAA India Alternatives IPO Details
The IPO is entirely an offer for sale by Edelweiss Group, with no fresh issue component. The issue size has been reduced to Rs 1,200 crore from the Rs 1,500 crore proposed earlier in the draft red herring prospectus.
Since the offering is an offer for sale, EAAA India Alternatives will not receive any proceeds from the IPO. The proceeds will go to the selling shareholder.
EAAA India Alternatives is an alternative investment platform focused on income and yield solutions. Its investment portfolio spans real assets, including infrastructure assets in the energy and transportation sectors, commercial real estate, and private credit.
Also Read: EAAA India Alternatives IPO To Open On October 26, To Raise Rs 1,200 Crore Via OFS
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