Company allots 30.7 lakh shares at upper price band of ₹425; public issue opens on July 30
New Delhi (Economy India): MV Electrosystems Ltd has successfully raised ₹130.5 crore from anchor investors ahead of the launch of its Initial Public Offering (IPO), reflecting strong institutional interest in the public issue.
According to a circular uploaded on the BSE, the company allotted 30.7 lakh equity shares to 14 anchor investors at ₹425 per share, the upper end of the IPO price band.
The IPO will open for public subscription on Thursday, July 30.
Strong Anchor Investor Participation
The anchor book witnessed participation from several prominent institutional investors, including:
- Kotak Mutual Fund
- Founders Collective Fund
- 360 ONE Prime Ltd
- Subhkam Ventures
- Shine Star Build Cap
- Ashika Global Finance
- Finavenue Growth Fund
- Tattvam Aanjay Ageless AIF
- VentureX Fund
- Meru Investment Fund
The successful anchor round is considered a positive indicator of investor confidence ahead of the IPO opening.
| Particulars | Details |
|---|---|
| Company | MV Electrosystems Ltd |
| Amount Raised | ₹130.5 Crore |
| Shares Allotted | 30.7 Lakh Equity Shares |
| Issue Price | ₹425 per Share |
| Anchor Investors | 14 Funds |
| IPO Opens | July 30 |
Shares Allotted at Upper Price Band
The company allotted shares at ₹425 each, enabling it to mobilise ₹130.5 crore before the issue opens to retail and institutional investors.
Anchor investors are typically allotted shares one day before an IPO opens and are subject to a mandatory lock-in period as per SEBI regulations.
(Economy India)
