Road builder Sadbhav Infrastructure Projects secured $31.6m from anchor investors including Tata and Tata AIG Life Insurance as part of the initial public offering.
India-based road construction company Sadbhav Infrastructure Projects has raised Rs 1.2bn ($31.6m) from anchor investors including conglomerate Tata in a $64m initial public offering, the Economic Times reported yesterday.
Insurance provider Tata AIG Life Insurance, Nomura India Investment Fund Mother Fund, an investment vehicle of brokerage firm Nomura; Morgan Stanley Mauritius, a subsidiary of investment firm Morgan Stanley; Amansa Holdings; HDFC Trustee; and SBI Mutual Fund also contributed to the IPO.
The seven anchor investors were part of a $64m…
