Manufacturing company Zetwerk has raised ₹2,251.2 Cr from anchor investors ahead of the opening of its initial public offering (IPO) for public subscription on October 15.
The company allotted 14.91 Cr equity shares to anchor investors at ₹151 apiece, the upper end of its IPO price band.
Domestic mutual funds accounted for around 46% of the anchor book, picking up 6.80 Cr shares through 61 schemes across 22 fund houses. Notably, 40% of the anchor investor portion was reserved for domestic mutual funds, life insurance companies and pension funds.
SBI Mutual Fund emerged as the largest among these investors, acquiring 1.02 Cr shares through two schemes. ICICI Prudential Mutual Fund also accounted for around 7% of the anchor allocation. Other participating fund houses included Bajaj Finserv, Abakkus, Baroda BNP Paribas, Motilal Oswal and Edelweiss.
Global institutional investors accounted for a significant part of Zetwerk’s anchor book. Capital Group’s Smallcap World Fund Inc received the largest individual allocation, worth ₹288 Cr, accounting for 12.79% of the total anchor portion. Government Pension Fund Global and Abu Dhabi Investment Authority’s Monsoon fund were each allocated shares worth about ₹75 Cr, while Nomura India Investment Mother Fund received an allocation worth ₹50 Cr.
Among international investors, the anchor book featured the likes of Goldman Sachs, BlackRock, First Sentier Investors and Societe Generale.
Zetwerk’s ₹5,012 Cr IPO will open for public subscription on October 15 and close on October 17. 7 Bn.
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