Tara Jewels Limited whose IPO opens on Wednesday the 21st of November completed its anchor allocation on the eve of the issue opening. The company allocated 30% of the QIB portion or 11,58,945 shares to two FII’s. The price band of the IPO is a very narrow one between Rs 225-230. The allotment was made at the top end of the price band of Rs 230. In the anchor book the surprising fact is that there is no Indian entity or mutual fund.
The anchor investors are as follows: –
|
1. Universities Superannuation Scheme Ltd (USSL) as trustee of Universities Superannuation Scheme. |
4,35,000 |
| 2. D B International Asia Limited | 7,23,945 |
| Total | 11,58,945 |
The company would be raising a total of Rs 179.5 crs through a fresh issue of Rs 109.5 crs and an offer for sale of Rs 70 crs. With the anchor allocation they have raised Rs 26.66 crs which would reduce the amount to be now raised to Rs 152.84 crs.
