InvestorQ : How was the response to the anchor placement ahead of the India Pesticides IPO?
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How was the response to the anchor placement ahead of the India Pesticides IPO?

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Arti Chavan answered.
5 months ago
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With the IPO of India Pesticides opening on 23 June, the company raised Rs.240 crore from a total of 16 anchor investors on 22 June. The IPO is slated to remain open from 23 June to 25 June. The total anchor placement was for 81.08 lakh shares at a price of Rs.296. This is the upper price band of the 290-296 range set for the IPO and could be largely indicative of robust QIB demand for the IPO; which normally also drives the retail demand.

The global investors who participated in the anchor placement included the Abu Dhabi Investment Authority or ADIA, Tara Emerging Asia and BNP Paribas. In addition, many of the leading domestic institutions like SBI MF, Nippon MF, Bajaj Allianz Life and Bharti AXA Life also participated in the anchor placement ahead of the IPO. The India Pesticides IPO seeks to raise Rs.800 crore, including Rs.100 crore via new offer and Rs.700 core via OFS.

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