Shankara Building

Shankara Building Products Ltd's Managing Director Sukumar Srinivas on Monday offloaded over 10 lakh shares of the company for Rs 75 crore through an open market transaction. According to the block deal data on NSE, he sold 10 lakh shares at an average price of Rs 755 apiece. This took the total deal value to Rs 75.50 crore. Srinivas, a promoter of the company, held 1.25 crore shares or 55.05 per cent stake in the firm at the end of December 2021. Separately, APL Apollo Mart bought 10 lakh shares of Shankara Building at the same price. On NSE, shares of Shankara Building ended 10.09 per cent higher at Rs 823.50 apiece.

Home improvement and building products company Shankara Building Products made a stellar trading debut on Wednesday. Shares of the company closed 38 per cent above its Initial Public Offer (IPO) price. The stock closed at Rs 632.8 on the BSE, up Rs 172.8 or 37.57 per cent over the issue price of Rs 460. Market participants said the positive response for Shankara on the listing day was on the expected lines given the high investor demand witnessed during the IPO. The Rs 345-crore offering of Shankara was subscribed more than 40 times.IDFC Bank, Equirius Capital and HDFC Bank were the book running managers for the issue. The IPO comprised of Rs 300 crore worth secondary share sale by multiple investors, including private equity (PE) player Fairwinds. There was also a fresh issue worth Rs 45 crore in the IPO, which was to be used for repayment of loansThe company raised Rs 103 crore by allotting shares to anchor investors. List of institutions that are part of the anchor book include ...