The Pre-IPO Placement comprised 20 lakh equity shares worth Rs 60 crore that were allotted to Plutus Wealth Management LLP while 10 lakh equity shares worth Rs 30 crore were allotted to Think India Opportunities Master Fund LP. Meanwhile, 333,333 equity shares amounting to Rs 10 crore were allotted to Vikas Vijaykumar Khemani.
Among others who were allotted shares, included, Rosy Blue Diamonds (433,334 equity worth Rs 13 crore) and Viraj Russell Mehta (233,333 equity shares worth Rs 7 crore).
The pre-IPO placement was done in consultation with the Book Running Lead Managers (BRLMs) and was approved by the Board at its meeting held on Wednesday July 5, 2023 and by the shareholders at their extraordinary general meeting held on the same day, the exchange filing said.
Intensive Fiscal Services Private Limited, Ambit Private Limited and IIFL Securities Limited are the BRLMs to the issue.
The company has filed the Draft Red Herring Prospectus (DRHP) with SEBI for a proposed Initial Public Offering. The size of the fresh issue of up to Rs 610 crore has been reduced by Rs 120 crore pursuant to the Pre-IPO placement. Now the revised size of the fresh issue is up to Rs 490 crore and an Offer for Sale (OFS) remains where Promote Group shareholders will sell their stakes totalling up to 6,551,690 equity shares, the filing said.
The offer for sale up to 6,551,690 equity shares comprises of up to 3,743,000 equity shares by Vimla Tyagi; up to 2,021,200 equity shares by Prem Narayan Tyagi and up to 787,490 equity shares by Neena Tyagi.
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