Mauritius-based Soach Global to make 25 times return from NSE IPO

Mauritius-based Soach Global Opportunities Fund is set to make around 25 times return on its investment in the upcoming NSE IPO. The fund had bought 1.5 lakh NSE shares in January 2016 at Rs 3,950 each, which adjusted to Rs 71.8 per share after corporate actions expanding the holding to 82.5 lakh shares. At the IPO price band of Rs 1,700 to Rs 1,785 per share, the fund is selling 16.5 lakh shares worth about Rs 280 to Rs 295 crore while retaining the remaining 66 lakh shares valued at around Rs 1,120 to Rs 1,180 crore. The NSE IPO, pegged at around 46 billion dollars, is entirely an offer for sale with no fresh capital being raised by the exchange.