Affle India Raises Rs 206 Crore From Anchor Investors
A passenger uses phone at Mumbai Central railway station in Mumbai, India (Photographer: Dhiraj Singh/Bloomberg)  

Affle India Raises Rs 206 Crore From Anchor Investors

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Mobile marketing firm Affle India on Friday said it has raised about Rs 206.55 crore from 15 anchor investors by allotting 27.7 lakh equity shares at a price of Rs 745, the upper band of its initial issue that opens on July 29.

On Wednesday, Affle India Ltd. said it will launch its Rs 459-crore initial public offering from July 29 and has fixed a price band of Rs 740-745 per share. The issue will close on July 31, 2019, according to a company statement.

Among the 15 anchor investors, Abeerden Asian Smaller Companies Investment and Franklin Templeton Investment Funds has subscribed over 3.05 lakh shares each.

Other anchor investors include Goldman Sachs India, Malabar India Fund, among others.

The IPO comprises of a fresh issue aggregating up to Rs 90 crore and an offer for sale of up to 49.53 lakh equity shares by Affle Holdings, according to a statement.

ICICI Securities, Nomura Financial Advisory and Securities (India) are the book-running lead managers to the offer.

The equity shares of the company are proposed to be listed on the National Stock Exchange of India and BSE.

Also read: Affle India IPO Opens On July 29, Price Band Set At Rs 740-745 Per Share

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