Zetwerk secures ₹2,251 crore from anchor investors before IPO
The allocation to 99 investors came at ₹151 per share, with Zetwerk’s public offering set to open October 15.
Key takeaways
- Zetwerk raised ₹2,251.23 crore from 99 anchor investors.
- The shares were allocated at ₹151 apiece, the top of the IPO price band.
Zetwerk Manufacturing Businesses raised ₹2,251.23 crore from 99 anchor investors on October 14, ahead of its IPO. It allotted 14.91 crore shares at ₹151 apiece, the top of the offer’s price band.
BlackRock, Goldman Sachs and Nomura took part in the allocation, alongside global investors, sovereign wealth funds, Indian mutual funds and insurers.
The ₹5,012.33 crore IPO is set to open on October 15 and close on October 19. It comprises a fresh issue worth ₹2,830 crore and an offer for sale of 14.45 crore shares, valued at ₹2,182.33 crore. Zetwerk plans to use proceeds from the fresh issue for debt repayment, acquisitions and general corporate purposes.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
