New Delhi, Sept. 15 -- Auto parts maker Hero Motors Ltd on Tuesday garnered nearly Rs 300 crore from anchor investors ahead of its IPO, which opens for subscription on September 16. The company allotted 3.57 crore equity shares to anchor investors at Rs 84 apiece, according to a circular uploaded on BSE's website.
Institutions that participated in the anchor book include ICICI Prudential Life Insurance Company Ltd, 3P India Equity Fund 1M, Edelweiss Life Insurance Company Ltd, Societe Generale and ASAS Global Fund Incorporated VCC Sub Fund, among others.
Additionally, shares were allocated to ICICI Prudential MF, Kotak Mahindra MF, JM Financial MF and Bank of India Mutual Fund.
Hero Motors has fixed a price band of Rs 79-84 per equity share for its Rs 1,000-crore IPO, which will remain open for subscription till September 18.
The IPO comprises a fresh issue of equity shares of up to Rs 600 crore and an OFS of shares worth up to Rs 400 crore by promoters.
Published by HT Digital Content Services with permission from Millennium Post.