Tecpro Systems, a provider of material handling solutions, today said it has raised Rs 46.96 crore from eight anchor investor funds for its maiden IPO.
The Committee of Directors of the company, at its meeting on September 22, has finalised allocation of 13,23,000 shares to anchor investors at Rs 355 a piece, Tecpro Systems said in a statement.
The anchor investors include Birla Sun Life, Franklin India, The Nomura Trust and Banking Co, Sundaram BNP Paribas Mutual Funds and Axis Bank.
The IPO, which opened today, will close on September 28.
The company has entered the capital market with a Rs 268 crore issue priced in the range of Rs 340 to Rs 355 a share. The firm is offering 7,550,000 shares.
Tecpro Systems Ltd (TSL) is engaged in providing turnkey solutions in material handling, ash handling, balance of plant (BoP) and engineering, procurement and construction contracts.
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