Syngene International has made an allotment of 60 lakh shares to 13 anchor investors at the higher end of its IPO price band of INR240-250 per share. The Biocon subsidiary has raised INR150 crore by placing the shares with anchor investors which will have a lock in period of 30 days from the date of allotment.
Among the leading parties allotted shares are Reliance Pharma Fund and BNP Paribas Arbitrage Fund which have been allocated 8 lakh shares each. Government of Singapore and Monetary Authority of Singapore have been allotted 6.59 lakh and 3.4 lakh shares respectively. Blackrock India Equity Fund have been allotted 6 lakh shares while Goldman Sachs India Fund, ICICI Prudential Top 100 Fund, Tata Equity Opportunities Fund, Columbia Emerging Markets Fund and DB International (Asia) have received an allotment of 4 lakh shares each. Here is the full list of anchor investors and the shares allotted to them.
|S. No.||Anchor Investor||Shares Allotted||Bid Price|
|1||BNP Paribas Arbitrage||800000||250|
|2||Reliance Pharma Fund||800000||250|
|3||Government of Singapore||659340||250|
|4||BlackRock India Equity Fund||600000||250|
|5||Columbia Emerging Markets Fund||400000||250|
|6||DB International (Asia) Limited||400000||250|
|7||Goldman Sachs India Fund Ltd||400000||250|
|8||ICICI Prudential Top 100 Fund||400000||250|
|9||Tata Equity Opportunities Fund||400000||250|
|10||Monetary Authority of Singapore||340660||250|
|11||Axis Equity Fund||250000||250|
|12||Morgan Stanley Mauritius Company Limited||200000||250|
|13||Oppenheimer Emerging Markets Innovators Fund||200000||250|
|14||Axis Small Cap Fund||150000||250|
The IPO will open on Monday, 27 July for subscription and will close on 29 July. Analysts have been bullish on the prospects of the contract research organization (CRO) business that Syngene specializes into. The views expressed by brokerages such as Anand Rathi, Way2Wealth, ICICIdirect, and Reliance Securities are in line with buoyant grey market premium across the country. Here are some critical details and brokerage views on the IPO.
|IPO dates||27 July – 29 July|
|Price band||INR240 – 250 per share|
|Total shares||2.2 crore shares (net offer of 2 crore shares excluding the reservation of 20 lakh shares for existing Biocon shareholders|
|Category allocation||QIB – 50%, NII – 15%, Retail – 35%|
|Lead managers||Axis Capital Limited, Credit Suisse Securities (India) Private Limited and Jefferies India Private Limited|
Given the relatively small size of the IPO and the huge positivity around this public issue, large oversubscription figures are warranted. As a result, it may be better for retail investors to make small applications.