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Happiest Minds Technologies Ltd on Saturday raised ₹315.90 crore from 25 anchor investors, as part of their anchor book subscription.
The company is coming out with an initial public offering on September 7 at a price band of ₹164-166 to raise ₹702 crore through a fresh issue and an offer-for-sale. The IPO ends on September 9.
Among them include foreign investors such as Government of Singapore, Goldman Sachs, Kuwait Investment Authority, Nomura Funds Ireland, Jupiter India and Pacific Horizon Investment and domestic institutions Aditya Birla Sun Life Mutual Fund, Axis MF, Franklin Templeton MF, HDFC Life Insurance and SBI MF.
In all, the company has allotted 1.90 crore shares at the upper price band of ₹166 a share.
The offer comprises a fresh issue of ₹110 crore and an OFS aggregating up to 3.56 crore shares. While 84.14 lakh shares being offered by Ashok Soota, promoter, through the IPO, and another 2.72 crore shares by CMDB II, selling shareholder.
Bids can be made for a minimum of 90 equity shares.
The anchor investors are: Government of Singapore (5.70 per cent); Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Franklin Templeton Mutual Fund, Goldman Sachs India Fund Ltd, HDFC Life Insurance Co Ltd, ICICI Prudential Mutual Fund, Jupiter India Fund, Kotak Mutual Fund, Kuwait Investment Authority Fund - 225, Nippon India Mutual Fund, Nomura Funds Ireland Public Limited Company – Nomura Funds Ireland – India Equity Fund, Pacific Horizon Investment Trust Plc and SBI Mutual Fund (5.06 per cent each); Fidelity Asian Values Plc (4.41 per cent); and Sundaram Mutual Fund, Aditya Birla Sun Life Insurance Co Ltd, Amundi Funds SBI FM India Equity, Avendus Absolute Return Fund, IIFL Special Opportunities Fund – Series 5, Integrated Core Strategies Asia Pte Ltd, L&T Mutual Fund, Malabar India Fund Ltd, Max Life Insurance Co Ltd and SBI Life Insurance Co Ltd (2.41 per cent each).
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