Mumbai: Bangalore-based Transteel Seating Technologies has garnered Rs 13 Crores from anchor investors ahead of its initial public offering of Rs 49.98 Crores, which opens for public subscription on Monday, September 30, 2023. The Company informed the bourses that it allocated 18,60,000 shares at Rs. 70 per share on Friday, September 29, 2023, to anchor investors.
The Company is a manufacturer of office furniture in India, offering tailor-made furniture and installation as per the specifications and requirements of the clients.
Domestic AIFs, NBFC treasury, and FPIs make the anchor book diversified. Some of the marquee institutions that participated in the anchor are Chanakya Opportunity Fund, Nav Capital, VPK Global, Moneywise Financials, and Nexus Global.
Out of 49.98 Crores of IPO, QIBs and market maker portion is 27.5 Crores. Only 22.5 Crores of the portion is left for non-institutional Investors, the HNI category, and the retail category.
Gretex Corporate Services Limited Pantomath Capital Advisors Private Limited is the book-running lead manager.
IPO Details:
IPO is set to commence on October 30, 2023, and will conclude on November 01, 2023. The IPO comprises an issue size of 49.98 crores, featuring a combination of 67,84,000 Fresh Issue Equity Shares and 3,56,000 Offer for Sale (OFS) shares.
Investors can bid for a minimum of 2000 equity shares and in multiples of 2000 equity shares thereafter.
The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, and not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors. Not less than 35% of the Offer shall be available for allocation to Retail Individual Investors.
