Metallurgical and chemical engineering firm Apar Industries Ltd on Thursday approved the allotment of 16.89 lakh equity shares to eligible qualified institutional buyers at an issue price of ₹14,805 per share, raising approximately ₹2,500 crore through its Qualified Institutions Placement .
The total issue proceeds amounted to ₹2,500 crore. The QIP opened on August 10 and closed on August 13. Following the allotment, APAR Industries' paid-up equity share capital increased from ₹40.18 crore to ₹41.87 crore. HDFC Flexi Cap Fund and SBI Contra Fund were each allotted 1.69 lakh shares, representing 10.0001% each.
AllotteeShares allottedICICI Prudential Mutual Fund1.69 lakhHDFC Flexi Cap Fund1.69 lakhSBI Contra Fund1.69 lakhNomura India Investment Fund Mother Fund1.01 lakhAditya Birla Sun Life Mutual Fund1.01 lakhAxis Mutual Fund1.01 lakhAbu Dhabi Investment Authority91,185Nomura India Investment Fund Mother Fund was allotted 1.01 lakh shares, representing 6% of the equity shares offered.
Aditya Birla Sun Life Mutual Fund was allotted a total of 1.01 lakh shares across its schemes, representing 6% when clubbed. Axis Mutual Fund was also allotted 1.01 lakh shares across its schemes, representing 6% when clubbed. Abu Dhabi Investment Authority was allotted 91,185 shares, or 0.91 lakh shares, across its Monsoon and Stable funds, representing 5.4% of the equity shares offered when clubbed.