Anchor investors buy 13.3% of Indian auto parts maker's IPO

Indian auto components manufacturer Samvardhana Motherson Finance (SMFL) has secured Rs2.22 billion or about 13.3% of the funds targeted through its initial public offering from anchor investors, including the Government of Singapore, an announcement on the National Stock Exchange of India website shows. The amount is slightly below the maximum 15% that was set aside for anchor investors, although that may be partly because the company hasn’t fixed the number of shares to be sold.