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StanChart raises Rs414 crore from anchor investors

StanChart raises Rs414 crore from anchor investors
PTI
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First Published: Mon, May 24 2010. 10 50 PM IST
Updated: Mon, May 24 2010. 10 50 PM IST
New Delhi: UK-based Standard Chartered Plc on Monday tied up six anchor investors, including Reliance Mutual Fund and ICICI Prudential Asset Management Co. Ltd, and raised Rs414 crore by offering 36 million Indian Depository Receipts (IDRs), a day ahead of opening of the issue for public subscription. The anchor investors have taken 15% of the total proposed IDR offer, which amounts to 240 million units. The subscription by anchor investors was made at the upper end of the price band—Rs115, people close to the matter said on condition of anonymity.
Other anchor investors are Franklin Templeton, Birla Sun Life, HDFC MF and Sundaram.
The public issue closes on 28 May.
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First Published: Mon, May 24 2010. 10 50 PM IST