The company allotted 2.04 crore equity shares at a price of Rs 103 aggregating Rs 210 crore, it said in a statement.
    
The anchor investors are HDFC Mutual Fund, Tata MF, Nomura MF, Morgan Stanley, Amansa, Tata AIA Life and SBI MF.
    
Sadbhav plans to raise Rs 425 crore through fresh issue of equity shares and an offer for sale of up to 32.36 lakh equity shares by existing investors including the anchor investor's portion.
    
The price band has been fixed at Rs 100-103 a share. The IPO, which opens today, would close on September 2.
    
The funds raised through the issue would be utilized for repayment of loans, equity investment and advancing of subordinate debt to its subsidiary Shreenathji Udaipur Tollway Pvt Ltd (SUTPL)and part financing of the SUTPL Project.
    
This would be the fifth company to hit the capital markets this month.
    
Prior to that, IPOs of four companies, Navkar Corporation, Pennar Engineered Building Systems, Shree Pushkar Chemicals and Fertilizers and Power Mech Projects was over subscribed, while the Prabhat Dairy's initial share plan is currently underway.

 

 

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