InvestorQ : Can you tell me about the anchor placement of shares for Tega Industries? What was the anchor response?
swati Bakhda made post

Can you tell me about the anchor placement of shares for Tega Industries? What was the anchor response?

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Sam Eswaran answered.
5 months ago
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Tega Industries completed its anchor allocation on 30-November. The response was more from domestic mutual funds as FPI investors were much lesser in number. The total anchor allotment stood at 41 lakh shares which were allotted to around 25 anchor investors. This allocation was made at Rs.453, which represents the upper IPO price band. The overall anchor allocation size stood at Rs.185.77 crore.

In terms of anchor allocation, a total of 8 mutual funds and 19 specific schemes accounted for 62.86% of the total anchor allocation. This is true of most mid-sized IPOs where the dominance of domestic mutual funds has been quite visible compared to the mega digital IPOs where the FPIs have predominated. Here are the 10 anchor investors who got allotment of more than 3.00% of the anchor quota.

Anchor Investor

No. of Shares

% of Anchor Portion

Ashoka India Equity Fund

5,73,936

14.00%

SBI Large & Mid Cap Fund

4,08,375

9.96%

Goldman Sachs India Portfolio

3,09,045

7.54%

Aditya Birla Sun Life Small Cap Fund

3,09,045

7.54%

Mirae Asset Tax Saver Fund

3,09,045

7.54%

HDFC Hybrid Debt Fund

2,20,737

5.38%

Axis Capital Builder Fund

1,54,539

3.77%

Axis Equity Hybrid Fund

1,43,484

3.50%

Tata Infrastructure Fund

1,32,462

3.23%

Tata Multi Asset Opportunities

1,32,462

3.23%

The total anchor allocation stood at Rs.185.77 crore and it accounts for close to 30% of the total issue size. It must be remembered that the QIB portion in the IPO of Tega Industries gets reduced to the extent of the anchor placement and only the net balance will be available for regular QIB allocation in the IPO.

Here are the names of some of the big names that participated in the anchor placement, apart from the mutual fund names. These names include Goldman Sachs India, Ashoka India Fund, Kuber Fund, Elara India Opportunities Fund and BNP Paribas Arbitrage Fund. The IPO has opened on 01-Dec and the anchor allotment is done via book building a day ahead of the IPO in most cases.

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