Indian office furniture manufacturer, Transteel Seating Technologies, has raised Rs 13 Crores from anchor investors in anticipation of its Initial Public Offering (IPO) valued at Rs 49.98 Crores, set to run from Monday to Wednesday. Notable investors include Alternative Investment Funds (AIFs), Non-Banking Financial Company (NBFC) treasuries, Foreign Portfolio Investors (FPIs), and institutions like the Chanakya Opportunity Fund, Nav Capital, VPK Global, Moneywise Financials, and Nexus Global.
The Bangalore-based company, which offers tailor-made furniture solutions, allocated 18,60,000 shares priced at Rs.70 each to these investors. The IPO is managed by Gretex Corporate Services Limited and Pantomath Capital Advisors Private Limited and is expected to be executed via the Book Building Process with a minimum bid set at 2000 equity shares.
The offering comprises of 67,84,000 fresh issue equity shares and an offer for sale of 3,56,000 shares. The IPO is divided into Rs 27.5 Crores for Qualified Institutional Buyers (QIBs) and market makers with allocations set at 50%, while non-institutional investors including High Net Worth Individuals (HNIs) and retail category are allocated Rs 22.5 Crores with allocations set at 15% and 35% respectively.
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