Standard Glass Lining Technology Ltd. raised Rs 123 crore from anchor investors on Friday ahead of its initial public offering, according to an exchange filing.
The company allotted approximately 87.9 lakh equity shares at Rs 140 apiece to 10 anchor investors. Amansa Holdings Pvt. got the highest allocation of 28.45% and Clarus Capital I got the second highest allotment of 14.63%, it said.
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ICICI Prudential Flexi Cap Fund, Kotak Mahindra Trustee Co. A/C Kotak Manufacture In India Fund and Tata Multicap Fund, got the third highest allotment of 9.15% stake in the company.
Out of the total allocation, 33.9 lakh equity shares or 38.62% of the total allocation to anchor investors were allocated to five domestic mutual funds, Standard Glass said.
Motilal Oswal Large Cap Fund, ICICI Prudential Flexicap Fund, Tata Multicap Fund, Kotak Mahindra Trustee Co. Ltd. A/C Kotak Manufacture In India Fund and ITI Large Cap Fund were among the top fund houses in this category.
IIFL Capital Services Ltd. and Motilal Oswal Investment Advisors are the book-running lead managers to the issue. KFin Technologies Ltd. is the registrar for the offer.
The company will launch its IPO on Monday to raise Rs 410.1 crore. The IPO consists of a fresh issue of Rs 210 crore and an offer for sale of Rs 200.1 crore. The price band has been set between Rs 133 and Rs 140 per share.
The Hyderabad-based company manufactures specialised engineering equipment for the pharmaceutical and chemical sectors in India. Standard Glass will use the proceeds from the fresh issue for payment of debt, inorganic growth and general corporate purposes.
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