New Delhi: Indian integrated design and manufacturing company Samvardhana Motherson Finance Ltd has garnered Rs 2.2 billion through issue of equity shares to four anchor investors, including the Government of Singapore and Royal Bank of Scotland, data from stock exchanges showed.
Samvardhana Motherson diluted equity shares at Rs 115 per share to Commonwealth Bank of Australia, India's Birla Sun Life Mutual Fund, Government of Singapore and Royal Bank of Scotland, the company said.
The company's initial public offer will open on May 2 to raise Rs 16.65 billion. It has set a price band of Rs 113-118 per share.
The shares issued through the offer are expected to be listed on the National Stock Exchange (NSE) as well as on the Bombay Stock Exchange (BSE).
Samvardhana Motherson Finance has roped in Standard Chartered Securities India Ltd and JP Morgan India Pvt Ltd as book running lead managers to the issue.