Dhoot Transmission secures Rs 918-cr from anchor investors

New Delhi: Auto components maker Dhoot Transmission Ltd has secured Rs 918.3 crore from anchor investors including BlackRock, Abu Dhabi Investment Authority and SBI Mutual Funds, days before the opening of its initial public offering (IPO).

The company allotted over 1.05 crore equity shares to anchor investors (72 funds) at Rs 871 per share, according to a circular uploaded on the BSE website. Domestic mutual funds accounted for the largest share of the anchor allocation, with eight fund houses investing through 46 schemes. They were allotted 64.60 equity shares, representing 61.27 per cent of the total anchor book.

The anchor book drew participation from a host of domestic and global institutional investors, including SBI Mutual Fund (MF), ICICI Prudential MF, HDFC MF, BlackRock, WhiteOak, Abu Dhabi Investment Authority, Axis MF, Mirae Asset, Government Pension Fund, Amundi Funds, Allianz Global Investors, SBI Life Insurance, HDFC Life Insurance, ICICI Prudential Life Insurance and Axis Max Life Insurance.

The Rs 3,067-crore IPO is scheduled for public subscription on August 10 and will conclude on August 12. The price band has been set at Rs 829-871 per share. The IPO comprises a fresh issue of equity shares aggregating up to Rs 1,400 crore and an offer for sale (OFS) of up to 1.91 crore equity shares by promoters — BC Asia Investments XV Limited, an entity of private equity firm Bain Capital, and Mangalam Capital Private Limited.