SBI Funds Management on Monday said it has completed its pre-IPO (initial public offering) placement of around Rs 1,880 crore. The company has undertaken a private placement of 32,752,608 equity shares for cash considerations at an issue price of Rs 574 per equity share, including a premium of Rs 573 per equity share.
WhiteOak Capital, 3P India Equity Fund 1, Tata AIG General Insurance Company Limited, Dymon Asia Multi-Strategy Investment (Singapore) Pte. Ltd and Bennett Coleman & Co Ltd, among others participated in the funding round.
3P India Equity Fund 1 was allocated 26,13,240 equity shares of the company for Rs 574 per equity share each aggregating to Rs 149.99 crore. Tata AIG General Insurance Company Ltd was allocated 17,42,160 equity shares of the company for Rs 574 per equity share each aggregating to Rs 99.99 crore, WhiteOak Capital India Opportunities Fund was allocated 1,742,160 equity shares of the company for Rs 574 per equity share each aggregating to Rs 99.99 crore.
Dymon Asia Multi-Strategy Investment (Singapore) Pte. Ltd was allocated 4,35,540 equity shares of the Company for Rs 574 per equity share each aggregating to Rs 24.99 crore. Bennett Coleman & Co Ltd was allocated 8,71,080 equity shares of the company for Rs 574 per equity share each aggregating to Rs 49.99 crore.
As per the public disclosure, post the Pre-IPO the offer-for-sale is now up to 170,956,631 Equity shares of face value of Re 1 each.
IPO opens today for three days
The IPO will open on Tuesday for subscription and close on Thursday. Investors can bid for a minimum of 26 equity shares and in multiples of 26 equity shares thereafter. The offer is being made through the book-building process, wherein not more than 50 percent of the net offer is allocated to qualified institutional buyers, and not less than 15 percent and 35 percent of the net offer is assigned to non-institutional bidders and retail individual bidders, respectively.
In addition, the offer also includes reservations for eligible SBI shareholders and eligible SBIFM employees and SBI employees. Eligible SBIFM employees and SBI employees bidding in the employee reservation portion are being offered a discount of Rs 54 per equity share.
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