 "Precision Camshafts raises Rs 123 cr from anchor investors")
Precision Camshafts on Monday raised Rs 123 crore from anchor investors ahead of its initial public offering (IPO), which opens on Wednesday.
The auto ancillary company allotted 6.61 million shares to anchor investors at Rs 186 apeice.
Almost all the anchor investors were domestic mutual funds, including State Bank of India Mutual Fund, IDFC MF, HDFC MF and ICICI Prudential MF. Preicison has priced the IPO in the price range of Rs 180 to Rs 186 per share.
The IPO will raise Rs 405 crore at the lower end of the price band and Rs 410 at the top end.
The IPO closes on January 29.
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