Dixon Technologies garners Rs 180 cr from anchor investors
Ahead of its initial public offer tomorrow, consumer electronics manufacturer Dixon Technologies today raised nearly Rs 180 crore from anchor investors, including Kuwait Investment Authority Fund and Goldman Sachs India.
The shares would be allocated at the upper end of the Rs 1,760-1,766 IPO price band.
The company has finalised allocation of more than 10.18 equity shares at a price of Rs 1,766 apiece to the anchor investors, according to a filing submitted to the BSE.
At this price, the total amount is Rs 179.78 crore.
Apart from Kuwait Investment Authority Fund and Goldman Sachs India Fund, other anchor investors include DSP BlackRock Micro Cap Fund, Steadview Capital Mauritius, HDFC Small Cap Fund and HSBC Indian Equity Mother Fund.
Kotak Midcap, ICICI Prudential Growth Fund, SBI Life Insurance Company and Birla Sun Life Insurance Company are among the other anchor investors.
Dixon Technologies aims to raise up to Rs 600 crore from the IPO. The offer comprises fresh issue aggregating up to Rs 60 crore besides an offer for sale of up to 30,53,675 shares by certain existing shareholders.
Proceeds from the issue would be utilised for setting up a unit for manufacturing LED TVs at its Tirupati facility, enhancement of backward integration capabilities in the lighting products vertical at Dehradun facility and upgradation of the information technology infrastructure.
It would also be used for repayment of loans and for general corporate purposes.
IDFC Bank, IIFL Holdings, Motilal Oswal Investment Advisors and Yes Securities are the book running lead managers to the issue.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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