Godrej Agrovet has raised ₹341.19 crore from 25 anchor investors. The company, which is planning to raise as much as ₹1,157 crore through an initial public offering, allotted 74.17 lakh shares on Tuesday at ₹460 a share to 25 anchor investors. The anchor investors include the Government of Singapore, First State Indian Subcontinent Fund, JP Morgan, Russell Investment Company, The India Fund Inc — Aberdeen, Goldman Sachs India, SBI MF, Reliance AMC, ICICI Prudential AMC, SBI Life Insurance and HSBC MF. Godrej Agrovet’s IPO opens for public subscription on Wednesday at a price band of ₹450-460 a share. The issue will close on Friday. The company’s shares will be listed on the BSE and the NSE.

Partial exit by Godrej Ind

While ₹866 crore raised through the initial sale will give partial exit to holding company Godrej Industries and V-Sciences Investment, a Temasek entity, the remaining ₹292 crore will be used to repay short-term loans.

Bids for the issue can be made for a minimum of 32 equity shares and in multiples of 32 shares thereafter.

Godrej Agrovet is a leading agri-business company operating across five different business verticals — animal feed, crop protection, oil palm, dairy, poultry and processed foods.

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