Industrial gases supplier Steamhouse India has raised Rs 124.2 crore from six anchor investors, including companies backed by ace investors Madhusudan Kela and Sunil Singhania, on September 8, a day before its IPO opens for public subscription.
The Rs 414-crore initial public offering (IPO) will open for public subscription on September 9, with a price band of Rs 77-81 per share. The issue comprises a fresh issue of shares worth Rs 353 crore and an offer-for-sale (OFS) of shares worth Rs 61 crore by promoter Vishal Sanwarprasad Budhia.
Steamhouse India has allocated 1.53 crore equity shares through the anchor book at the upper end of the price band.
Madhusudan Kela-mentored Singularity AMC, through Singularity Large Value Fund III, and Kela-backed Chartered Finance & Leasing emerged as the largest buyers among the anchor investors. Each picked up 51.97 lakh shares in the Gujarat-based Steamhouse India for Rs 42.09 crore.
Sunil Singhania's Abakkus Asset Manager, through Abakkus Emerging Opportunities Fund-1, and alternative investment fund Emerge Capital, through Emerge Capital Opportunities Scheme, each acquired 12.34 lakh shares in the company for Rs 10 crore.