Annapurna Swadisht, a Kolkata-based FMCG company, announced that its initial public offering had been oversubscribed 190.49 times. The issue opened on September 15, 2022, and closed on September 19, 2022. At the upper price band, the company has received bids of Rs 3,835.02 crore. It had offered43.22 lakh Equity Shares through the book-building issue and had set a price band of Rs 68-70 per share for the initial public offering. The company’s shares will be listed and traded on NSE Emerge.
The Qualified Institutional portion of the issue has been oversubscribed by 45.84 times. The company had offered 8.20 lakh shares under this category and has received a bid of 3.75 crore shares, amounting to Rs 263.13 crore, at the upper price band. The NII segment has oversubscribed 301.13 times. It has received bids of 18.54 crore shares against the 6.16 lakh share offered, raising Rs 1298.49 crore at the upper price band. Meanwhile, the retail portion has been oversubscribed 225.54 times. It has received bids of 32.47 crore shares against the 14.40 shares offered under the retail category, raising Rs 2273.40 crore.
The company has raised Rs. 8.61 Crore from anchor investors – Rajasthan Global Securities Private Limited, Authum Investment and Infrastructure Limited and NAV Capital VCC – NAV Capital Emerging Star Fund.
Marquee investors led by market veteran Shankar Sharma have invested in the pre-IPO round of funding in the company. Shankar Sharma has invested in his personal capacity in the issue. In addition, Amit Bhartia, erstwhile Partner, GMO Singapore Pte, is too invested in his individual capacity. Other institutional investors, including NAV Capital Emerging Star Fund and Rajasthan Global Securities, have also invested in the pre-IPO stakes in the company.
The issue is lead-managed by Corporate Capital ventures Pvt. Ltd. Post-issue, paid-up equity capital of the company will be Rs. 16.42 crore