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Apollo Micro Systems raises Rs 47 cr from anchor investors

Press Trust of India  |  New Delhi 

today raised nearly Rs 47 crore from anchor investors, ahead of its initial share-sale tomorrow.

It has allotted 16,96,050 to four anchor investors at a price of Rs 275 per scrip, garnering Rs 46.64 crore, the company said in a statement.

Among the anchor investors are Sundaram Mutual Fund A/C Sundaram Infrastructure Advantage Fund and Jupiter South Investment Company Ltd - South Access Fund.

The price band for the offer, which will close on January 12, has been fixed at Rs 270-275 per equity share.

Proceeds of the initial public offer (IPO), through which is estimated to raise Rs 156 crore, will be used to meet additional working capital and other general corporate purposes.

The company offers integrated solutions to the aerospace, defence, home land security and

The equity are proposed to be listed on and

As of November, the company's order book stood at Rs 97.50 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 09 2018. 21:15 IST