22 September 2023, Mumbai
Ethnic apparel retailer Sai Silks (Kalamandir) has secured over Rs 360 crore in funding from anchor investors, just days ahead of the launch of its initial public offering (IPO).
The company has allocated 1.63 crore equity shares to 26 funds at a price of Rs 222 per share, which coincides with the upper end of the price range.
Nuances
Anchor investors are institutional investors who are invited to invest in an IPO at a fixed price before the shares are offered to the public. This investment helps to stabilize the price of the shares and attract other investors.
Strong showing
The fact that Sai Silks has been able to attract such a large investment from anchor investors is a good sign for the company's IPO.
It suggests that there is strong demand for the company's shares and that investors are confident in its future prospects.
