Maharashtra-based automotive components manufacturer Endurance Technologies Ltd. allocated shares worth Rs 348.5 crore to anchor investors ahead of its initial public offering which opens on October 5.
The company has finalised allocation of 73,83,906 equity shares to anchor investors at an offer price of Rs 472 a piece aggregating to Rs 348.52 crore, it said in a statement.
The anchor investors include Goldman Sachs, Nomura, HSBC, Government of Singapore, DSP BlackRock, HDFC Mutual Fund (MF), ICICI Prudential MF, Reliance Capital Trustee, and SBI Mutual Fund.
The IPO is an offer for sale for 2.4 crore shares or 17.5 percent of the company's total equity. Promoter Anurag Jain will offload up to 53 lakh shares or 3.8 percent stake, while existing public shareholder Actis Components and Systems Investment Ltd. is looking to sell its entire 13.72 percent stake or 1.93 crore shares.
The price band for the Rs 1,150-crore offer has been fixed at Rs 467-472 per equity share.
The issue is being managed by Axis Capital and Citigroup Global Markets India Pvt Ltd. The equity shares offered through the offer are proposed to be listed on BSE and National Stock Exchange (NSE).
The company manufactures two-wheeler and three-wheeler automotive components. It also has operations in Europe with manufacturing facilities in Italy and Germany.
Also Read: Endurance Technologies IPO Opens On October 5, Price Band Fixed At Rs 467-472
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