Affle India raises $20.5 million before IPO
Mobile marketing firm Affle India has raised $20.5 million (about Rs 206.55 crore) from 15 anchor investors by allotting 27,72,483 equity shares at a price of $10.5 per share, before its IPO launch.
Affle India Ltd will launch its $60.5 million initial public offerings from July 29 and has fixed a price band of Rs $10.5 per share. The issue will close on July 31, 2019, according to a company statement.
Among the 15 anchor investors, Abeerden Asian Smaller Companies Investment and Franklin Templeton Investment Funds has subscribed over 3.05 lakh shares each.
Other anchor investors include Goldman Sachs India, Malabar India Fund, among others.
The IPO comprises of a fresh issue aggregating up to $13 million and an offer for sale of up to 49,53,020 equity shares by Affle Holdings,...