Anant Raj allots 1.67 crore shares to institutions at Rs 662
ANANTRAJ · price
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Anant Raj allotted 16,616,314 equity shares to qualified institutional buyers at Rs 662 each, raising about Rs 1,100 crore. The price was Rs 660 above face value but 4.86% below the Rs 695.83 regulatory floor. Allottees included Societe Generale, BNP Paribas, Morgan Stanley, Kotak Mahindra Life and Jupiter India Fund.
The placement adds about Rs 1,100 crore of capital but expands the share count by 4.84%, creating dilution for existing shareholders.