India Pesticides raises Rs 240 crore from 12 anchor investors

Our Bureau Mumbai | Updated on June 22, 2021

The anchor investors were allotted 81.08 lakh shares

Lucknow-based India Pesticides Ltd, an agro-chemical manufacturer of technicals, has raised Rs 240 crore from 12 anchor investors at Rs. 296 a share.

The company allotted 81.08 lakh shares to the anchor investors.

Abu Dhabi Investment Authority, Wells Fargo, Plutus, Millenium, Tara and BNP Paribas were the six foreign portfolio investors, who were allocated a total of 24.49 lakh shares for about Rs 72.50 crore.

Amongst domestic investors, SBI Mutual Fund and Nippon Mutual Fund picked up the largest allocations of 27.08 per cent and 16.67 per cent, respectively, for about Rs 105 crore.

Other domestic institutions that were allocated shares were Tata Mutual Fund, Bajaj Allianz Life Insurance Company, Bharti AXA Life Insurance Company and Winro Commercial India. These investors were allocated a total of 21.11 lakh shares for about Rs 62.50 crore.

On June 18, India Pesticides had fixed a price band of Rs 290-296 a share for its Rs 800-crore initial public offering (IPO). The issue will open for subscription on June 23, and close on June 25.

Also Read: India Pesticides fixes price band of Rs 290–296 per share for Rs 800-crore IPO

Published on June 22, 2021

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