Real estate developer Pranav Constructions Ltd on Friday raised Rs 84.24 crore from anchor investors, ahead of the opening of its initial public offering (IPO) for subscription on September 7.
According to a circular uploaded on the BSE website, the company allotted 67.94 lakh equity shares at Rs 124 per share to investors participating in the anchor round.
The anchor investor allocation comes ahead of the company's IPO, which is scheduled to open for public subscription on September 7.
Several prominent institutional investors participated in the anchor round, including Goldman Sachs Investments (Mauritius) Ltd, ITI Mutual Fund, Taurus Mutual Fund, Abudantia Capital VCC and Ashika India Select Fund.
The successful anchor placement provides an early indication of institutional interest in the company's public offering. The IPO will now open for subscription to other eligible investors from September 7.
