New Delhi, Jul 29 (PTI) MV Electrosystems Ltd has raised Rs 130.5 crore from anchor investors ahead of its initial public offering (IPO), which is set to open for public subscription on Thursday.
The company allotted 30.7 lakh equity shares to 14 funds at Rs 425 apiece, the upper end of the price band, according to a circular uploaded on the BSE website on Wednesday.
The anchor book saw participation from multiple 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 and Meru Investment Fund.
The public offer, with a price band of Rs 400-425 per share, will open for subscription on July 30
and conclude on August 3.
The IPO is entirely a fresh issue of equity shares, aggregating up to Rs 290 crore. The proceeds from the IPO are proposed to be utilised for business expansion and other corporate purposes, as outlined in the offer document.
Mumbai-based MV Electrosystems is engaged in the design, development, assembly and manufacturing of electrical and power electronics equipment used in railway rolling stock. PTI SP SHM
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