TBO Tek Ltd. has raised Rs 696 million from key investors ahead of its initial public offering. The company has allotted 75.7 million shares to 47 anchor investors at Rs 920 each.
Key investors include Abu Dhabi Investment Authority, Norges Bank-backed Government Pension Fund Global, Nomura Funds Ireland, Neuberger Berman and SBI Technology Opportunities Fund, all of which participated in the pre-IPO round. Each secured an allocation of 5.4% in funding.
TBO Tech said in an exchange filing on Tuesday that 14 domestic mutual funds have applied through a total of 26 schemes. They collectively bagged 42% of the anchor portion of Rs 290 crore. Nippon Life India, ICICI Prudential, Whiteoak Capital and Edelweiss Mutual Fund are the major investors in this category.
The lead book managers for the anchor round were Axis Capital, Goldman Sachs (India) Securities, and Jefferies India.and JM Financial Co., Ltd.