Tata capital ipo: Tata Group’s NBFC company Tata Capital has raised Rs 4642 crore from anchor investors, with the Life Insurance Company (LIC) the largest bet of Rs 700 crore, which is 15.08 percent of the anchor book. LIC was allotted 2,14,72,386 shares.
According to the company’s filing, other investors include Nomura India Investment Fund Mother Fund (3.77 percent), Nomura India Investment Fund Mother Fund (3.77 percent) and Morgan Stanley Investment Funds Asia Opertunity Fund (3.15 %). Apart from this, Rs 125 crore has been allotted to Norway’s Wealth Fund, Government Pension Fund Global Rs. 2.69 percent equity. The stocks were allotted on the upper price band of Rs 310-326 per share.
Who are an anchor investors?
Anchor investors usually include an institution, mutual funds or pension funds. They are also called qualified Institutional Boys (QIB). There are many advantages of the involvement of anchor investors in the IPO, this increases the trust of investors. Since the opening of the IPO, a large fund is obtained before the opening of the IPO, other investors are also encouraged to invest. This increases stability, helps in setting a price band for stock, which leads to a good price.
Which companies participated in the anchor book?
Anchor book included investors like SBI Life Insurance, SBI General Insurance, HDFC Life Insurance, Aditya Birla Sun Life Insurance, ICICI Londbard General Insurance, Bharti AcS Life Insurance, Kenra HSBC Life Insurance, Navi General Insurance and Reliance General Insurance.
Apart from these, ICICI Prudential MF, HDFC AMC, Aditya Birla Sun Life AMC, DSP MF, Axis Mutual Fund, Whiteok Capital, Nippon Life, Mahindra Manulif,, Edelweiss, Kotak Mahindra AMC, Motilal Oswal AMC, UTI AMC, Bandhan MF, Barbas MF, Invesco India, Mirray Asset and PGIM India 18 domestic mutual fund houses together bought 5.06 crore shares of Tata Capital for Rs 1,650.4 crore.
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