Tolins Tyres garners Rs 69 cr from anchor investors ahead of its IPO
Tolins Tyres Ltd on Friday announced that it has mopped-up Rs 69 crore from anchor investors ahead of its initial share-sale opening for public subscription.
BofA Securities Europe SA, NAV Capital VCC, Chhatisgarh Investments, Ashika Global Securities, Moneywise Financial Services, Vikasa India EIF I Fund, Invicta Continuum Fund I and Steptrade Revolution Fund are the anchor investors that have been allotted shares.
The company allotted a total 30.53 lakh shares to these investors at Rs 226 apiece, which is also the upper-end of the price band. This aggregates the transaction size to Rs 69 crore, according to a circular uploaded on BSE's website.
The company's Rs 230-crore IPO will be open for public subscription during September 9-11. It has fixed a price band of Rs 215 to Rs 226 per share for its initial public offering (IPO).
The Kerala-based company's initial share-sale is a combination of fresh issue of equity shares worth Rs 200 crore and an offer-for-sale (OFS) of equity ..