Bonfiglioli Transmissions, a power transmission and drive solutions provider and a subsidiary of Italy-based Bonfiglioli S.p.A., has raised Rs 759.26 crore through its anchor book on October 14, a day ahead of the opening of its initial public offering (IPO).
The Rs 2,533.8-crore IPO will open for public subscription on October 15 and close on October 19. The price band has been fixed at Rs 558–586 per share.
The IPO comprises an offer-for-sale (OFS) of 4.32 crore equity shares by the company's promoter, Bonfiglioli S.p.A. As the issue is entirely an OFS, the net proceeds, after deducting offer-related expenses, will go to the selling shareholder, and the company will not receive any proceeds from the offering.
A total of 73 institutional investors participated in the anchor book, subscribing to 1.29 crore equity shares at the upper end of the price band.
"Of the total anchor book shares, 76.72 lakh shares worth Rs 449.61 crore were allocated to 20 domestic mutual funds, which applied through a total of 46 schemes," the company said in its filing.