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Power Mech Projects Limited at its meeting on Thursday, in consultation with the book running Lead Managers, has finalised allocation of 1,280,700 Equity Shares to Anchor Investors.
The Anchor Investor have been allotted at Rs 640 per Equity Share (including share premium of Rs 630 per Equity Share), aggregating to Rs 819,648,000.
The Hyderabad-based company has come out with a public issue of 4,269,000 Equity Shares of Rs 10 each consisting of a fresh issue of 2,128,000 equity shares and an offer for sale of up to 2,141,000 equity shares for cash at a price to be determined through the book-building process.
The allottees include DSP Blackrock India Tiger Fund, SBI Magnum Multicap Fund, SBI Small and Midcap Fund, L&T Mutual Fund Trustee Limited and Business Cycles Fund, Morgan Stanley Mauritius Company Limited, HDFC Trustee Company Limited and HDFC Capital Builder Fund, HDFC Small and Midcap Fund, Tata AIG Life Insurance Co Limited Whole Life Midcap Equity Fund and IDFC Premier Equity Fund.
The price band for issue set to open on August 7 has been fixed at Rs 615-640 per equity share.
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