ADIA Evaluates Anchor Stake As Zetwerk Prices IPO Arabian Post
The sovereign wealth fund is among more than 30 domestic and international investors examining participation in the offering, according to people familiar with the discussions. No allocation to ADIA has been confirmed, and expressions of interest do not guarantee an investment.
Zetwerk has now fixed its initial public offering price band at Rs143 to Rs151 a share, giving the company a valuation of approximately Rs25,583 crore at the upper end. The final pricing is below the roughly Rs27,000 crore valuation discussed before the price band was disclosed.
Anchor investors are scheduled to submit bids on October 14, ahead of the public subscription period from October 15 to 19. Shares are expected to begin trading on the BSE and National Stock Exchange on October 23, subject to the completion of allotment and listing formalities.
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