Apollo Micro Systems raises Rs 47 cr from anchor investors

Apollo Micro Systems today raised nearly Rs 47 crore from anchor investors, ahead of its initial share-sale tomorrow.

It has allotted 16,96,050 shares to four anchor investors at a price of Rs 275 per scrip, garnering Rs 46.64 crore, the company said in a statement.

Among the anchor investors are Sundaram Mutual Fund A/C Sundaram Infrastructure Advantage Fund and Jupiter South Asia Investment Company Ltd - South Asia Access Fund.

The price band for the offer, which will close on January 12, has been fixed at Rs 270-275 per equity share.

Proceeds of the initial public offer (IPO), through which Apollo Micro Systems is estimated to raise Rs 156 crore, will be used to meet additional working capital and other general corporate purposes.

The company offers integrated solutions to the aerospace, defence, home land security and transportation sectors.

The equity shares are proposed to be listed on BSE and NSE.

As of November, the company's order book stood at Rs 97.50 crore.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)