Bengaluru-primarily primarily primarily based insurtech birth-up Dart Digit Celebrated Insurance coverage has raised about Rs 1,176.6 crore within the anchor spherical sooner than the articulate of affairs that opened earlier on the present time.
The board of directors of the company at its meeting held on Might 14, 2024, in session with the e book running lead managers to the offer, has finalized the allocation of 4,32,57,009 equity shares, to 56 anchor patrons at anchor investor allocation mark of Rs 272 per equity portion.
Anchor patrons incorporated the American multinational Fidelity Investments-backed fund which obtained the finest allocation of 7.95%, adopted by Goldman Sachs Funds (5.31%), ADIA (5.31%), Custody Bank of Japan (4.25%) and Bay Pond Companions (4.11%).
Out of the total allocation of 4,32,57,009 equity shares to the anchor patrons, 1,44,96,570 equity shares were allocated to 11 domestic mutual funds by procedure of a complete of 23 schemes amounting to Rs 394.31 crore (approx.) i.e. 33.51% of the total anchor e book size.
One of the most marquee funds that participated within the anchor spherical encompass SBI MF, ICICI Prudential MF, Axis MF, Mirae Asset MF, Tata MF, ITPL Invesco India, HDFC Life Insurance coverage, Abu Dhabi Funding Authority, and Morgan Stanley Asia (Singapore) among others.
ICICI Securities, Morgan Stanley India Company, Axis Capital, HDFC Bank, IIFL Securities, and Nuvama Wealth Administration are the e book-running lead managers and Link Intime India is the registrar to the articulate of affairs. The equity shares are proposed to be listed on the BSE and NSE.
DartDigitIPO Little print
The offer is a mixture of a new articulate of affairs of Rs 1,125 crore and an offer on the market of up to 54.77 million equity shares by promoters and diversified promoting shareholders.
The company is proposing to birth its preliminary public offering of equity shares on Wednesday, Might 15, 2024, and closes on Friday, Might 17, 2024. The worth band for the offer has been sure at Rs 258 – Rs 272 per equity portion.
The IPO will salvage Rs 2,614.65 crore on the upper cease of the mark band.
Investors can bid for a minimal of 55 equity shares and in multiples of 55 equity shares thereafter.
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