Business
Lalithaa Jewellery Allots 2.53 Crore Shares to Anchor Investors at Rs 201
Lalithaa Jewellery Mart has raised Rs 508 crore from 22 anchor investors, including Goldman Sachs, ICICI Prudential Mutual Fund and Bandhan Mutual Fund, ahead of its Rs 1,700-crore initial public offering.
Jewellery retailer Lalithaa Jewellery Mart Ltd has raised Rs 508 crore from anchor investors ahead of the opening of its proposed Rs 1,700-crore initial public offering (IPO).
The company allotted 2.53 crore equity shares to 22 anchor investors at a price of Rs 201 per share, according to a circular uploaded on the BSE website.
Several prominent institutional investors participated in the anchor allocation. They included Goldman Sachs Bank Europe, ICICI Prudential Mutual Fund and Bandhan Mutual Fund.
Other major investors named in the anchor allocation included Sanshi Fund-I, Kotak Mahindra Life Insurance Company, Morgan Stanley India Investment Fund and Bajaj Life Insurance.
The anchor investment comes shortly before the opening of Lalithaa Jewellery Mart’s public issue, which is expected to raise Rs 1,700 crore. The participation of large institutional investors provides an early indication of interest from major financial institutions ahead of the IPO.
With 2.53 crore shares allotted at Rs 201 each, the anchor placement has brought substantial institutional capital into the company before the broader public offering.