M&B Engineering's $650-Crore IPO: A Game Changer in PEB Sector
M&B Engineering Ltd has raised nearly Rs 292 crore from anchor investors prior to its initial public offering (IPO). Notable investors include HDFC Mutual Fund and Abu Dhabi Investment Authority. The company aims to use the proceeds for equipment, debt repayment, and working capital. The IPO seeks to raise Rs 650 crore.
- Country:
- India
M&B Engineering Ltd has successfully secured approximately Rs 292 crore from anchor investors just ahead of its upcoming initial public offering (IPO) opening to public subscription.
The allocation involved prominent domestic and international institutional investors such as HDFC Mutual Fund, Abu Dhabi Investment Authority, and Kotak MF. This helped in raising Rs 291.6 crore at Rs 385 per share.
The Rs 650-crore IPO will be a blend of new equity shares worth Rs 275 crore and an offer for sale (OFS) of Rs 375 crore by the company's promoters. The public offer is set to open on July 30 and will close on August 1.
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