Shankara Building From Anchor Investors To Raise Nearly Rs 104 Crore

From its anchor investors, Shankara Building Products ahead of its IPO soaked up Rs 103.5 crore. The initial share sale of the company will start tomorrow and will be closing on March 24. At a price of Rs 460 per share totalling to 22.50 lakh shares have been issued to 16 anchor investors.

As per a regulatory filing, the shares combined are worth Rs 103.5 crore. Franklin India Smaller Companies fund, ICICI Prudential Life Insurance Company, Reliance Nippon Life Insurance Company and DSP BlackRock Crore Fund are the anchor investors.

The company has fixed the price band at Rs 440-460 a piece and will constitute 25% at least of the post offer paid-up equity share capital of the company. Equirus Capital Pvt Ltd, HDFC Bank Ltd and IDFC Bank Ltd are the Book Running Lead Managers to the offer.

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About Suhani Varma

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