Manika Plastech, the Mumbai-headquartered plastic products manufacturing company, has raised Rs 37.6 crore from four anchor investors, including Trust Mutual Fund, on September 10, a day ahead of the IPO opening.
The Rs 125.5-crore IPO is set to open for public subscription on September 11, with a price band of Rs 40-43 per share, and will close on September 16.
The company is raising Rs 92.5 crore through the issuance of fresh equity shares, while promoter entity VRIDAA Holding Trust will sell 76.74 lakh equity shares worth Rs 33 crore through an offer for sale (OFS).
Manika Plastech, in its filing with the stock exchanges on Thursday, said it had allocated 87.55 lakh equity shares to four anchor investors at the upper end of the price band.
Pantomath Group subsidiary Wealth Company Asset Management-owned The Wealth Company Alternates Trust-Bharat Value Fund-Series III emerged as the largest investor in the anchor book, acquiring 41.04 lakh shares for Rs 17.6 crore.