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India Shelter Finance collects Rs.360-Cr from 38 anchor investors

Economic Times  

Affordable housing finance company India Shelter Finance has attracted INR 360 crore from anchor investors, a day before its Initial Public Offering (IPO). The company has allotted 73.02 lakh equity shares to 38 funds at INR 493 apiece, which is also the upper end of the price band. Goldman Sachs Funds, ICICI Prudential Mutual Fund (MF), Kotak Mahindra MF, UTI MF, Nippon India MF, Quant MF, Edelweiss MF, Bandhan MF, Tata MF, ICICI Prudential Life Insurance Company Ltd, SBI Life Insurance Co Ltd, and Max Life Insurance Company are among the anchor investors. The INR 1,200 crore-IPO comprises a fresh issue of equity shares worth INR 800 crore and an Offer For Sale (OFS) of INR 400 crore by investor shareholders. Those offering shares in the OFS include Catalyst Trusteeship Ltd, Madison India Opportunities IV, MIO Starrock, Nexus Ventures III Ltd, and Nexus Opportunity Fund II Ltd. ICICI Securities, Citigroup Global Markets India, Kotak Mahindra Capital Company, and Ambit are the book-running lead managers to manage the IPO.