Ahead of SME IPO, Dachepalli Publishers collects over Rs 11.4 cr from anchor investors

New Delhi, Dec 21 (PTI) Hyderabad-based Dachepalli Publishers on Sunday said it has collected a little over Rs 11.48 crore from anchor investors, a day ahead before the opening of its initial public offering (IPO).

The company has allotted more than 11.25 lakh equity shares at an anchor investor price of Rs 102 per equity share to five entities, INTI Capital VCC, Rajasthan Global Securities, Saint Capital Fund, Unicorn Fund and LRSD Securities, aggregating to Rs 11.48 crore, the company said in a statement.

The Rs 40.39 crore IPO will open for public subscription on December 22 and close on December 24. The company's shares are proposed to be listed on the BSE SME, it added.

It has fixed a price band at Rs 100-102 per share.

The public issue is entirely a fresh issue of 39.60 lakh equity shares, aggregating to Rs 40.39 crore at the upper end of the price band.

The net proceeds from the fresh issue to the tune of Rs 25 crore will be used to part finance the requirement of working capital, funds worth Rs 6 crore will be used for repayment of debt and general corporate purposes.

Dachepalli Publishers Ltd is engaged in publishing educational content-based books for K-12 segment across CBSE, ICSE, and state boards.

Synfinx Capital Pvt Ltd is the sole book-running lead manager for the IPO. PTI HG HG TRB TRB