INSUBCONTINENT EXCLUSIVE:
MUMBAI: Affle (India) Ltd said it raised around Rs
206.55 crore by selling shares to institutional investors as part of its anchor book allocation on Friday.
The mobile marketing company
Affle (India) allotted 2,772,483 equity shares at Rs
745 per share amounting to Rs
206.55 crore to 15 Anchor Investors, including Aberdeen and Franklin Templeton.
The Rs 459-crore initial public offer (IPO) by Affle India,
a company in which Microsoft is a minority shareholder, will open for subscription on Monday.
The issue would be a mix of fresh issue (up to
Rs 90 crore) and an offer for sale by existing shareholders (up to Rs 369 crore)
The price band for the offer has been fixed in the range of Rs 740-745 a share.
At the higher end of the price band, the issue is available
The company has accumulated over 300 billion data points over the preceding 12 months, which helps it enhancing prediction and
recommendation algorithm for the platform.
Meanwhile Affle's will be the first IPO under the new UPI mechanism that is mandatory for retail
investor category since July 1.