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The Economic Times

Akash Podishetti

Madhu Kela-backed fund invests in Steamhouse India IPO as company raises Rs 124 crore from anchor investors

Steamhouse India IPO India Sunil Singhania

Steamhouse India has raised Rs 124.2 crore from anchor investors ahead of its Rs 414 crore IPO, which will open for subscription on Wednesday, September 9. The company allotted 1.53 crore shares to anchor investors at Rs 81 per share, the upper end of its price band. The price band for the IPO has been fixed at Rs 77-81 per share, with a face value of Rs 2 each. The issue will close on Friday, September 11.

The anchor book saw participation from Singularity Large Value Fund III, backed by Madhusudhan Kela, and Abakkus Emerging Opportunities Fund-I, backed by Sunil Singhania. Other anchor investors included Chartered Finance & Leasing, Niveshaay Sambhav Fund, Emerge Capital Opportunities Scheme and 31 Degrees North Fund-I.

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