Mumbai-based Credo Brands Marketing Limited has raised Rs 165 crore ($20.3 million) from marquee anchor investors ahead of its initial public offering that opens for public subscription on December 19, 2023.
Nippon Mutual Fund, HSBC Mutual Fund, Aditya Birla Sunlife Insurance, Kotak Mahindra Life Insurance, Bajaj Allianz Life Insurance, Integrated Core Strategies (Asia), Morgan Stanley Asia, SBI General Insurance, JM Mutual Fund, Subhkam Ventures, Reliance General Insurance participated in the funding round.
The company informed the bourses that it allocated 58,90,488 equity shares at Rs 280 per share to anchor investors.
Out of the total allocation of 58,90,488 equity shares to the anchor investors, 24,99,167 equity shares were allocated to domestic mutual funds through a total of 3 schemes amounting to Rs 70 crore i.e. 42.4% of the Total Anchor Book Size.
DAM Capital, ICICI Securities and Keynote Financial Services Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer.
Credo Brands initial public offering opens on December 19 and closes on December 21, 2023 for the price of Rs 266 – Rs 280 per equity share.
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