Fire protection equipment manufacturer HD Fire Protect Ltd on Monday raised ₹213.11 crore from anchor investors ahead of its initial public offering (IPO), which will open for public subscription on Tuesday, October 13.
According to a circular uploaded to the stock exchanges, the company allotted 78.64 lakh equity shares to 25 funds at ₹271 apiece, the upper end of the IPO's price band.
The anchor investor round attracted participation from Bajaj Life Insurance, Axis Max Life Insurance, Allianz Global Investors Fund and several domestic mutual funds, including Kotak Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Aditya Birla Sun Life Mutual Fund, Mirae Asset Mutual Fund, Bandhan Mutual Fund and UTI Mutual Fund.
Domestic mutual funds accounted for a significant share of the anchor book, receiving 56.52 lakh shares, or 71.88% of the total allocation.
The shares were allotted through 17 mutual fund schemes, highlighting the participation of domestic institutional investors ahead of the public offering.