1. Endurance Tech raises Rs 348.52 crore

Endurance Tech raises Rs 348.52 crore

Automotive component manufacturer Endurance Technologies on Tuesday raised approximately R348.52 crore by allotting 73.83 lakh shares to anchor investors at a price of R472 apiece.

By: | Published: October 5, 2016 6:31 AM

Automotive component manufacturer Endurance Technologies on Tuesday raised approximately R348.52 crore by allotting 73.83 lakh shares to anchor investors at a price of R472 apiece. Among the investors who were allotted shares in the pre IPO placement are Goldman Sachs, Nomura, HSBC, Government of Singapore, HDFC Mutual Fund and Reliance Capital Trustee, among others. The company has priced its initial public offering (IPO) aimed at raising R1,161 crore (when calculated at the upper end of the price band), between R467-472 per share.

The IPO is a pure offer for sale (OFS) of 2.46 crore equity shares by Actis Components and System Investments and Anurag Jain, Managing Director of the company. Through the issue, Actis Components and System Investments will be exiting by selling 1.92 crore shares and Anurag Jain will be diluting his stake in the company by around 6.5% or 53 lakh shares.

Please Wait while comments are loading...

Go to Top