Brigade Hotel Ventures Raises Rs 325 Crore From Anchor Investors Prior To IPO Launch
Brigade Hotel Ventures Ltd. raised Rs 324.7 crore from anchor investors on Wednesday ahead of its initial public offering. The company allotted 3.6 crore shares at Rs 90 apiece to 17 anchor investors.
Franklin India Small Cap Fund got the highest allocation of 18.48%. Axis Mutual Fund Trustee Ltd. A/C Axis Mutual Fund A/C Axis Flexi Cap Fund and Motilal Oswal Large Cap Fund got the second highest allotment of 13.04%. SBI Retirement Benefit Fund- Aggressive Plan and Axis New Opportunity AIF- Series II got 10.16% stake each in the company.
Six domestic mutual funds have applied through 12 schemes. SBI, Franklin, Axis and Motilal Oswal were among the fund houses in this category, the Brigade Group subsidiary said in a filing.
The company had filed its draft red herring prospectus with the Securities and Exchange Board of India to raise up to Rs 759.6 crore through an initial public offering.
