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Hindustan Media Ventures, which looks after the Hindi newspaper entity of Hindustan Times, has managed to achieve around Rs.46 crores from the anchor investors lined up for its IPO. The company has allocated a total of 27.7 lakh shares at a price of Rs.166 each to the investors.

As reported earlier, the prices of shares have been set between Rs. 162 and Rs.175. Reliance Capital among all the investors has purchased 8.43 lakh shares.

The other investors include Lloyd George Investment Management, Canara Robeco Mutual Fund, NTUC Income Insurance Co-operative, PI Opportunities Fund and Birla Sun Life Mutual Fund.

The IPO is going to open tomorrow, 5th July, that has worth of Rs.270 crores and will close on 7th July.

HT Media holds 98.85% stake in HMV. The objects of the issue are to raise funds for setting up new publishing units; upgrading existing plant and machinery; prepayment of loans, and for general corporate purposes.