Tara Jewels, whose initial public offering opens tomorrow, has alloted shares worth over Rs 26 crore to two anchor investors.
The jewellery maker has given more than 11.58 lakh shares to anchor investors -- Universities Superannuation Scheme Ltd and D B International Asia Ltd -- at a price of Rs 230 per piece.
This price is the upper limit of Tara Jewel's IPO price band of Rs 225-230.
The company has allotted little over 7.24 lakh shares to D B International Asia Ltd. Another 4.35 lakh shares has been sold to Universities Superannuation Scheme Ltd (USSL) as trustee of Universities Superannuation Scheme.
Through the IPO, Tara Jewels plans to offload fresh equity shares valued at Rs 197.5 crore besides an offer for sale of Rs 70 crore worth of shares by Fabrikant H K Trading.
The IPO would close on November 23.
Tara Jewel's Chairman and Managing Director Rajeev Vasant Sheth, also the promoter holds 73.15% stake in the company. Fabrikant HK Trading and Crystalon Finanz AG have 16.36% and 9.09% shareholdings, respectively.