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Speciality Restaurants Ltd, whose IPO opened on May 17, has mopped up more than Rs 26 crore through issue of shares to anchor investors.
The company has raised over Rs 26.41 crore by allotting shares to five anchor investors including Morgan Stanley, SBI Magnum Global Fund, Reliance Equity Opportunities Fund and HSBC India Alpha (Mauritius) Ltd.
In a statement, Speciality Restaurants said it has allotted over 17 lakh shares to anchor investors at a price of Rs 150 per piece.
"... if the issue price discovered through book building is higher than the price at which anchor investors have been allocated equity shares, anchor investors would be required to bring in the additional amount," it added.
Speciality Restaurants has fixed the price band for the initial share sale at Rs 146-155, that would garner up to Rs 182 crore.
The sale of about 1.17 crore beginning today will end on May 18. The IPO proceeds would be mainly used for new restaurants, repayment of term loan and general corporate purposes.
"We are looking at opening 16 new restaurants in 2012-13, of which about 75 per cent will be under the Mainland China brand, especially in metro and tier I cities and an occasional Tier-II city," company's founder and managing director Anjan Chatterjee had said on Monday.
Presently, Speciality Restaurants has 82 eateries under 10 brands, including Mainland China, Oh! Calcutta, Sigree, Flame & Grill, Machaan Sweet Bengal and Just Biryani.