Archean Chemical Industries has raised ₹658 crore from 42 anchor investors at the upper price band of ₹407 per equity share. The anchor portion of the initial public offer (IPO) opened on Tuesday and the same for retail investors will start on Wednesday. Non-anchor offer closes on November 11.

The speciality chemical company is planning to garner ₹1,462 crore via public issue which comprises a fresh issuance of shares worth ₹805 crore and an offer-for-sale of 1.61 crore shares.

On Tuesday, it allocated 1.62 crore equity shares at the upper price band of ₹407 per equity share.

Marquee investors, including SBI Mutual Funds (through various funds), Nippon India Fund, ICICI Prudential Fund, HDFC Mutual Fund, Goldman Sachs Fund, Ashoka India Opportunities Fund, DSP Fund, IIFL Funds, Kotak Fund, Motilal Fund, Tata Mutual Fund, Theleme India Fund, Baroda BNP Paribas Fund, Edelweiss Fund and Foreign funds -Abhu Dhabi Investment Authority, Government pension fund global, Societe Generale and BNP Paribas, subscribed to the issue.

Out of the total allocation of 1,61,67,991 equity shares to the anchor investors, 98,28,072 equity shares were allocated to 10 domestic mutual funds through 21 schemes.