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Spices manufacturing company Shyam Dhani Industries has raised Rs 10.9 crore from anchor investors ahead of its initial share sale. The company gave this information on Sunday.
New Delhi. Spices maker Shyam Dhani Industries has given a strong signal to the market by raising ₹10.9 crore from anchor investors ahead of its IPO. The company’s IPO will open on December 22 and close on December 24, in which shares will be offered at the price band of ₹ 65-70. With the participation of anchor investors, investor confidence in the company’s issue seems to be increasing.
According to the company, a total of 15.60 lakh equity shares have been allotted to 7 institutions. These include names like Small Industries Development Bank of India (SIDBI), Rajasthan Global Securities Private Limited, Cent Capital Fund and SB Opportunity Fund. Shares have been given to all anchor investors at a price of ₹70 per share.
IPO will open from December 22
The IPO of Shyam Dhani Industries will open on 22 December and close on 24 December. The company has fixed the price band of ₹65 to ₹70 per share for this issue. This issue is being brought on the SME platform, where generally the interest of investors has increased rapidly in recent times.
Signal of confidence received from anchor investors
The participation of anchor investors is considered a sign of confidence for any IPO in the market. This sends the message that institutional investors have expressed confidence in the company’s business model, growth and financials. In such a situation, the eyes of retail investors will also be focused on this issue.
Increasing movement in SME segment
A good amount of activity is being seen in the SME IPO segment in the month of December. Shyam Dhani Industries’ raising funds from anchor investors seems to be taking this trend forward. Now it has to be seen how the investors react after the opening of the IPO and how strong the subscription is.
