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Digit raises Rs. 1,176.59 crore from anchor investors

by AIP Online Bureau | May 14, 2024 | Eco/Invest/Demography, Indian News, Non-Life, Wealth Management/ Philanthropy | 0 comments

Out of the total allocation of 4,32,57,009 equity shares to the anchor investors, 1,44,96,570 equity shares were allocated to 11 domestic mutual funds through a total of 23 schemes amounting to almost Rs 394.31 crore which is 33.51 per cent of the total anchor book size

Mumbai:

Indian born born Canadian billionaire Prem Watsa promoted Go Digit General Insurance has mobilised Rs 1,176.59 crores from anchor investors ahead of its initial public offering(IPO) that opens for public subscription on Wednesday, May 15, 2024.

The company informed the bourses that it allocated 4,32,57,009 equity shares at Rs. 272 per share on Tuesday to anchor investors.

Out of the total allocation of 4,32,57,009 equity shares to the anchor investors, 1,44,96,570 equity shares were allocated to 11 domestic mutual funds through a total of 23 schemes amounting to almost Rs. 394.31 crore which is 33.51 per cent of the total anchor book size.

Some of the foreign and domestic institutions, which participated in the anchor were Fidelity Investment Trust, Bay Pond Partners L.P., Goldman Sachs, Abu Dhabi Investment Authority (ADIA), Schroder International, East Spring Investments India, Custody Bank of Japan, SBI Mutual Fund, ICICI Prudential Mutual Fund, Axis Mutual Fund, Mirae Asset Mutual Fund, Ashoka WhiteOak Mutual Fund, Malabar Mutual Fund, Steadview Capital Mauritius Ltd, Optimix Wholesale Global Emerging Markets Share Trust, ACM Global Fund, HDFC Life Insurance,

The offer is a mix of fresh issue of Rs 1,125 crore and an offer for sale up to 54.77 million equity shares by promoters and other selling shareholders.

The company is proposing to open its initial public offering of equity shares on
Wednesday, May 15, 2024, and closes on Friday, May 17, 2024.

The price band for the offer has been determined at Rs 258 – Rs 272 per equity share.

The IPO will fetch Rs 2,614.65 crore at the upper end of the price band. Investors can bid for a minimum of 55 equity shares and in multiples of 55 equity shares thereafter.

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