Capacit’e Infraprojects Ltd. raised Rs 120 crore from anchor investors ahead of its three-day initial public offering that opens on Wednesday.
The construction service provider allocated 48 lakh shares to 15 anchor investors, according to a statement issued by the company.
Goldman Sachs India, HSBC Global Investment Funds, SBI Infrastructure Fund, ICICI Prudential Growth Fund were among the anchor investors. Shares were issued at the higher end of the IPO price band fixed at Rs 245-250 apiece.
Ahead of the launch of an IPO, shares are allotted to anchor investors – usually large foreign and domestic funds – to show backing for the offer by institutional investors.
The company is looking to raise Rs 400 crore through issuance of 1.6 crore fresh shares. Following the fresh issue, promoters’ holding will come down to 43 percent. The proceeds will be used for working capital requirements and to acquire equipment, Capacit’e Infraprojects had said in its draft prospectus.
Capacit'e Infraprojects provides end-to-end construction services for residential, car parks, offices and commercial complexes, and operates in north, south and west India.