Ashish Kacholia is investing in the anchor round of Euro Pratik Sales’s RS 135 crore for IPO

The sale of Euro Pratik has mobilized RS 135 Crore from Anker investors prior to its initial public offer (IPO) that will open for subscription on 16 September.

The company has assigned 54.6 Lakh shares to various selection framework investors under the anchor book. The list contains 360 One Group, Pine Bridge Global Fund, Motilal Oswal Mutual Fund, Nuvama, ITI Mutual Fund and Bengal Finance, supported by ACE investor Ashish Kacholia.

The IPO is priced in the band of RS 235-247 per share, with much size of 60 shares. Retail investors can make a minimal investment of RS 14,820.

Of the total issue, no more than 50% is reserved for qualified institutional buyers (QIBs), at least 35% for retail investors and 15% for non-institutional investors (NIIS).

The sale of Euro Pratik is concerned with the company of decorative interior products, the spreading of laminates, wall panels and related materials. With a strong presence in cities of Tier I and II, the company has positioned itself as a supplier for both residential and commercial projects.

The proceeds from the IPO will be used to finance working capital requirements, repaying loans and general business purposes.

Given the Strong Anchor book and participation of both domestic investment funds and global funds, it is good for the IPO, but the demand for subscription can depend on market sentences and ratings. The Gray Market Premium (GMP), which reflects the sentiment of investors for the list, was filled in.