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Sandhar Technologies raises Rs 154 cr from anchor investors

twitter-logo PTI        Last Updated: March 16, 2018  | 22:27 IST

New Delhi, Mar 16 (PTI) Auto component maker Sandhar Technologies today raised Rs 154 crore from anchor investors, ahead of its initial share-sale on Monday.

It has allotted 46,30,842 shares to 15 anchor investors at a price of Rs 332 per scrip, garnering Rs 153.74 crore, the company said in a statement.

Among the anchor investors are DSP BlackRock Small Cap Fund, ICICI Prudential Indo Asia Equity Fund, SBI Equity Savings Fund, IDFC Tax Advantage (ELSS) Fund, Theleme Master Fund and Aurigin Master Fund.

The price band for the initial public offer (IPO), which will close on March 21, has been fixed at Rs 327-332 per equity share.

The issue is expected to raise Rs 513 crore.

Sandhar Technologies IPO comprises fresh issue of equity shares worth Rs 300 crore and an offer for sale of up to 64 lakh scrips.

The company plans to use a portion of the net proceeds towards repayment of certain loan facilities and for other general corporate purposes.

ICICI Securities and Axis Capital will manage the companys IPO. The equity shares are proposed to be listed on BSE and NSE. PTI VRN BAL BAL

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