Ashish Kacholia, and Bengal Finance & Investment are the biggest investors, buying Rs 30 crore shares each in the Zaggle Prepaid Ocean Services ahead of IPO
Cyient DLM has raised INR 259.64 crore ($40m) from 20 anchor investors ahead of its initial public offering (IPO), set to open on Tuesday. The company plans to allot the shares at an anchor investor allocation price of INR 265 per equity share, including share premium of INR 255 per equity share. The eight domestic mutual funds behind the investment included ICICI Prudential, Founders Collective Fund, HDFC MF and Tata Infrastructure Fund. Cyient DLM said it intends to use the net proceeds towards funding incremental working capital requirements, inorganic growth through acquisition and for general corporate purposes.