Sunil Singhania's Abakkus Asset Manager, Vikas Khemani's Carnelian, and IIFL Capital are among five investors that collectively acquired a 2.95% stake in SFC Environmental Technologies from the promoters ahead of the company’s IPO next week.
The Navi Mumbai-based wastewater treatment solutions provider will open its maiden public issue on October 27 and close on October 29.
The company aims to raise Rs 667.5 crore via initial public offering (IPO) at the upper end price band of Rs 313-330 per share. The IPO included fresh issue of Rs 150 crore along with an offer-for-sale of 1.56 crore equity shares by promoters and other selling shareholders.
Promoter Sandeep Sudhakar Asolkar (held jointly with Priya Sandeep Asolkar) and promoter entity Asolkar Tradecraft transferred 27.57 lakh equity shares, representing 2.95 percent of pre-offer paid-up equity, to five institutional investors including Abakkus Asset Manager, Carnelian Asset Management, and IIFL Capital, at Rs 330 per share, on October 22 and 23.
Abakkus Flexi Edge Fund-1, and Abakkus Growth Fund-Open Ended acquired 13.63 lakh equity shares or 1.46 percent stake for Rs 45 crore, while Carnelian Asset Management & Advisors bought 6.96 lakh shares, representing 0.75 percent of pre-offer share capital worth Rs 23 crore, from Asolkar Tradecraft, on October 22.