Muthoot Finance raises $30 mln from anchor investors | business | Hindustan Times
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Muthoot Finance raises $30 mln from anchor investors

business Updated: Apr 16, 2011 13:14 IST

Reuters
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Muthoot Finance has raised about 1.3 billion rupees ($30 million) from 11 cornerstone investors, the company said in exchange filings, ahead of the launch of its initial public offering to raise up to $203 million.

The company, which provides personal and business loans secured by gold, alloted 7.7 million shares, or 15 percent of the total offering of 51.5 million shares, to anchor investors at 170 rupees a share, it said in the filings late on Friday.

The anchor investors that bought shares in the pre-IPO sale include Citigroup Global Markets Mauritius, Abu Dhabi Investment Authority, Goldman Sachs India Fund and Baring India Private Equity Fund, the filings showed.

The price band for the initial public offering, which opens on Monday and closes on Thursday, has been set at 160 rupees to 175 rupees a share.

ICICI Securities and Kotak Mahindra Capital Co are the book running lead managers to the issue while HDFC Bank is the co-manager.