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Stake sale · Professional & Local Services

Soach Global Opportunities Fund sells 20% NSE stake in IPO

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Date
Company
Soach Global Opportunities Fund
What it does
Mauritius-based investment fund
Kind
Stake sale
Amount
Rs 280-295 crore
Sector
Professional & Local Services

What they do

The fund is selling 16.5 lakh shares via OFS in NSE IPO, expecting Rs 280-295 crore

What happened

Its original Rs 59.25 crore investment in 2016 grew to 82.5 lakh shares through corporate actions

Why it matters

The partial exit at upper price band generates nearly 5X the original investment

The details

  • Soach Global Opportunities Fund is selling 20% of its NSE holding through an offer-for-sale (OFS) in the NSE IPO.
  • The fund expects proceeds of Rs 280-295 crore from selling 16.5 lakh shares at Rs 1,700-1,785 per share.
  • The original investment was Rs 59.25 crore for 1.5 lakh shares at Rs 3,950 per share in January 2016.
  • The holding grew to 82.5 lakh shares through corporate actions like stock splits and bonuses, with no additional investment.
  • The adjusted acquisition cost per share is Rs 71.8.
  • At the upper price band, the partial exit generates nearly five times its entire original investment.
  • The remaining 66 lakh shares are valued at Rs 1,120-1,180 crore.
  • The NSE IPO opened on September 17 and closes today, subscribed 1.76 times as of 11:50 AM on the final day.

The bigger picture

  • This stake-sale allows Soach Global Opportunities Fund to book significant profits from a long-term investment.
  • The NSE IPO has attracted strong anchor investor interest, raising Rs 6,746 crore from 189 investors including LIC, Norway GPFG, ADIA, GIC, Fidelity, and Societe Generale.
  • The IPO will close for subscription today, which is September 21.

About the business

  • Soach Global Opportunities Fund is a Mauritius-based investment fund.
  • It is a subsidiary of Soach Global Strategic Holdings Ltd, which is selling the shares.
  • The parent company, Soach Global Corporation Ltd, is based in Hong Kong and focuses on fund management and advisory.
  • The fund focuses on India and global markets.
  • Anubhav Dayal is the founder and director of Soach Global Opportunities Fund.

The deal

Type
stake-sale

Founders

  • Anubhav Dayal, founder and director

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