May 1, 2012 / 6:25 AM / 6 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.

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