Zetwerk Raises ₹2,251 Cr From Anchor Investors Ahead Of IPO

What happened

Manufacturing company Zetwerk has raised ₹2,251.2 Cr from anchor investors ahead of the opening of its initial public offering (IPO (the sale of a company’s shares to the public on a stock exchange)) for public subscription on October 15. The company allotted 14.91 Cr equity shares to anchor investors at ₹151 apiece, the upper end of its IPO price band.

Domestic mutual funds accounted for around 46% of the anchor book, picking up 6.80 Cr shares through 61 schemes across 22 fund houses. Notably, 40% of the anchor investor portion was reserved for domestic mutual funds, life insurance companies and pension funds.

SBI Mutual Fund emerged as the largest among these investors, acquiring 1.02 Cr shares through two schemes. ICICI Prudential Mutual Fund also accounted for around 7% of the anchor allocation.