Vidya Wires raises around Rs 90 crore from anchor investors ahead of Rs 300 crore IPO

Vidya Wires Limited has raised Rs 90 crore from anchor investors ahead of its initial public offering. The company allotted 1,73,07,991 equity shares at an anchor allocation price of Rs 52 per share, which includes a premium of Rs 51. Anchor investors include marquee investors like LIC Mutual Fund, Bandhan Mutual Fund, Bank of India MF, Alchemy, MAIQ, Maybank Securities. The anchor book attracted 10 institutional investors, with domestic mutual funds accounting for 77.78 percent of the total allocation. These domestic funds invested through seven schemes across three fund houses. Bandhan Small Cap Fund emerged as the largest anchor investor, receiving 46.15 lakh shares, representing 26.67 percent of the anchor book, for a total investment of Rs 240.05 crore. Bank of India Small Cap Fund followed with an allocation of 36.54 lakh shares, amounting to 21.11 percent of the anchor portion and an investment of Rs 190.02 crore. Other significant participants included Bank of India Business Cycle Fund, which was allotted 9.61 lakh shares for Rs 49.99 crore; LIC MF Infrastructure Fund, which received 16.34 lakh shares for Rs 85 crore; LIC MF Manufacturing Fund, which picked up 14.42 lakh shares for Rs 74.99 crore; and LIC MF Small Cap Fund, which secured 7.69 lakh shares for Rs 40 crore. LIC MF Value Fund received 3.84 lakh shares for Rs 19.99 crore. Alchemy Emerging Leaders of Tomorrow – Series 2 was allotted 19.23 lakh shares for Rs 99.97 crore, while MAIQ Growth Scheme – Long Only and Maybank Securities each received 9.61 lakh shares for Rs 50 crore. Overall, out of the total 1.73 crore shares allotted to anchor investors, 1.34 crore shares were allocated to domestic mutual funds. Vidya Wires, a manufacturer of super-enamelled copper wires, insulated copper conductors and related products, is set to list on December 10, the IPO will open from December 3 to December 5. The company plans to use the proceeds for expansion, working capital requirements and other corporate purposes. Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.