May 1, 2012 / 6:25 AM / 5 years ago

India's Samvardhana raises $42 mln from IPO anchor investors

MUMBAI, May 1 (Reuters) - India’s Samvardhana Motherson Finance Ltd has placed around 2.2 billion rupees ($42 million) worth shares with cornerstone investors, st ock exchange data showed, ahead of its initial share sale of about 16.65 billion rupees that opens on M ay 2.

Samvardhana, which provides design and manufacturing solutions to automakers, had set a price band of 113-118 rupees per share for the initial public offering (IPO).

The company sold shares at 115 rupees apiece to funds including investment arms of Commonwealth Bank of Australia , Government of Singapore, and India’s Birla Sun Life Mutual Fund, data on the National Stock Exchange website showed late Monday.

Standard Chartered and JPMorgan are the bookrunners for the issue.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below