MUMBAI: Hyderabad based precision engineering solutions company MTAR Technologies has raised Rs. 180 crores from 15 anchor investors ahead of its initial public offer (OFS) which will open for subscription on Wednesday. The company has allocated 31.11 lakh shares at Rs. 575 per share on March 2, to the anchor investors.
The anchor book, according to bankers, received a demand of Rs 3,500 crore from 35 institutions as against the book size of Rs 180 crore.
Investors who participated in the anchor were Nomura Funds Ireland, Jupiter South Asia Investment, White Oak Capital, Goldman Sachs Asset Management and domestic mutual funds such as SBI, Axis, ICICI, HDFC, Birla Sunlife, Kotak Mahindra, Nippon India, Franklin Templeton, Sundaram, Invesco.
The New York State Deferred Compensation Plan, Albany, re-hired Goldman Sachs Asset Management to be its stable value structure manager.The plan's governing board voted Friday to approve the five-year contract starting Oct. 1, subject to contract negotiations, David Fischer, the plan's executive…
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Kolkata: Marquee investors and bond funds including Pacific Investment Management (Pimco), Goldman Sachs Asset Management, Fidelity, BlackRock, TIAA, Loomis Sayles, Nan Shan Life, Ashmore Investment and Amundi Asset Management are believed to have participated in
Bharti Airtel’s $1.25-billion overseas fundraise through a mix of senior and perpetual bonds.
“Proceeds will be used for capex, repayment of existing indebtedness, and/or any other purpose in compliance with end-use guidelines set forth in FEMA ECB regulations and all other applicable laws and regulations,” Airtel said in an exchange filing on Thursday.
The Sunil Mittal-led telco said it priced $750 million worth of senior 10.25-year bonds at a yield of 187.5 basis points for an implied coupon of 3.250%. Network i2i, Airtel’s wholly owned Mauritius arm, in turn, priced $500 million of guaranteed subordinated perpetual 5.25-year bonds at a coupon of 3.975%.
Bharti Airtel on Thursday said it has raised funds to the tune of $1.25 billion via various debt instruments.
It is learnt that a clutch of global investors, including Goldman Sachs Asset Management, Fidelity, and BlackRock, have evinced an interest in the company’s overseas bonds.
The fund-raising is part of the company’s preparation for the upcoming spectrum auctions, where the exchequer hopes to raise Rs 3.92 trillion.
Airtel said this is the first-ever dual-tranche US dollar bond issued by the company, spread across senior and perpetual issuances. “This is the largest issuance by any Indian investment grade issuer since January 2019,” Airtel said in a statement.