Credo Brands Marketing Limited raises Rs. 165 crore from Marquee Anchor Investors
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Mumbai-based Credo Brands Marketing Limited has garnered Rs. 165 crores from marquee anchor investors ahead of its initial public offering that opens for public subscription on Tuesday, December 19, 2023. The company informed the bourses that it allocated 58,90,488 equity shares at Rs. 280 per share on Monday, December 18, 2023, to anchor investors.
Foreign and Domestic long-only Institutions who participated in the anchor were Nippon Mutual Fund, HSBC Mutual Fund, Aditya Birla Sunlife Insurance, Kotak Mahindra Life Insurance, Bajaj Allianz Life Insurance, Integrated Core Strategies (Asia), Morgan Stanley Asia, SBI General Insurance, JM Mutual Fund, Subhkam Ventures, Reliance General Insurance.
Out of the total allocation of 58,90,488 equity shares to the anchor investors, 24,99,167 equity shares were allocated to domestic mutual funds through a total of 3 schemes amounting to Rs. 70 crore i.e. 42.4% of the Total Anchor Book Size.
DAM Capital, ICICI Securities and Keynote Financial Services Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer.
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