Tara Jewels, whose initial public offering opens tomorrow, has alloted shares worth over Rs 26 crore to two anchor investors.
The jewellery maker has given more than 11.58 lakh shares to anchor investors -- Universities Superannuation Scheme Ltd and D B International Asia Ltd -- at a price of Rs 230 per piece.
This price is the upper limit of Tara Jewel's IPO price band of Rs 225-230.
The company has allotted little over 7.24 lakh shares to D B International Asia Ltd. Another 4.35 lakh shares has been sold to Universities Superannuation Scheme Ltd (USSL) as trustee of Universities Superannuation Scheme.
Through the IPO, Tara Jewels plans to offload fresh equity shares valued at Rs 197.5 crore besides an offer for sale of Rs 70 crore worth of shares by Fabrikant H K Trading.
The IPO would close on November 23.
Tara Jewel's Chairman and Managing Director Rajeev Vasant Sheth, also the promoter holds 73.15% stake in the company. Fabrikant HK Trading and Crystalon Finanz AG have 16.36% and 9.09% shareholdings, respectively.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app