Syngene places 60 lakh shares with anchor investors

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.

Read Also: Should you invest in Syngene IPO? Analysts say yes

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

 

Also read: Syngene’s INR550 crore IPO – What you need to know

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.

Syngene places 60 lakh shares with anchor investors
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Krishna Bagra

Coming from a family of investors and financial analysts, Krishna learnt wading through regulatory filings pretty early in her career. At IPO Central, Krishna plays twin roles of contributor and head of research desk. She can also be reached at +krishnabagra .

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