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PNN
Mumbai (Maharashtra) [India], October 30: Bangalore-based Transteel Seating Technologies has garnered Rs 13 Crores from anchor investors ahead of its initial public offering of Rs 49.98 Crores, that opens for public subscription on Monday, September, 30 2023. The Company informed the bourses that it allocated 18,60,000 shares at Rs. 70 per share on Friday, September 29, 2023, to anchor investors. The Company is manufacturer of office furniture in India, offering tailor made furniture and installation as per specification and requirements of the clients. Domestic AIFs, NBFC treasury and FPIs makes the anchor book diversified. Some of the marquee institutions who participated in the anchor are Chanakya Opportunity Fund, Nav Capital, VPK Global, Moneywise Financials and Nexus Global. Out of 49.98 Crores of IPO, QIBs and market maker portion is 27.5 Crores. Only 22.5 Crores of portion is left for non-institutional Invetsors, HNI category and retail category. Gretex Corporate Services Limited Pantomath Capital Advisors Private Limited are the book running lead manager. IPO Details IPO is set to commence on October 30, 2023, and will conclude on November 01, 2023. The IPO comprises an issue size of 49.98 crores, featuring a combination of 67,84,000 Fresh Issue Equity Shares and 3,56,000 Offer for Sale (OFS) share. Investors can bid for a minimum of 2000 equity shares and in multiples of 2000 equity shares thereafter. The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Investors. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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