C. Mahendra Exports to set up retail outlets

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C. Mahendra Exports Limited (the "Company"), the flagship company of C. Mahendra Group (the "Group"), proposes to set up retail outlets along with setting up of a diamond processing unit at SurSEZ and jewellery manufacturing unit at Mumbai. It further proposes to invest in brand development and infuse funds in the form of equity contribution in its subsidiary C. Mahendra BVBA.

 

To fund these projects cost the Company proposes to enter the capital markets with a public issue of 13,000,000 Equity shares of Rs 10 each through 100% book building process and has filed its Draft Red Herring Prospectus ("DRHP") with Securities and Exchange Board of India ("SEBI") for the purpose. YES Bank Ltd, Anand Rathi Financial Services Ltd and India Infoline Ltd are the BRLMs for the Issue. The equity shares are proposed to be listed on the Bombay Stock Exchange Limited ("BSE") and the National Stock Exchange of India Limited ("NSE"). The Company may issue up to 1,500,000 Equity Shares with certain investors prior to filing of the Red Herring Prospectus with the RoC ("Pre-Issue Placement"). If the Pre-Issue Placement is completed, the number of Equity Shares issued pursuant to the Pre-Issue Placement, will be reduced from the Issue.

 

Atleast 50% of the Issue will be available for allocation to qualified institutional bidders on a proportionate basis, of which 5% shall be available to mutual funds only. Further, up to 15% of the Issue shall be available for allocation on a proportionate basis to non-institutional investors and up to 35% of the Issue shall be available for allocation on a proportionate basis to retail individual investors. The Issue will constitute 30.23% of the fully diluted post issue paid-up capital of the Company.

 

The Group is an integrated diamond and diamond jewellery player encompassing sourcing of rough diamonds, trading of rough and polished diamonds, processing of diamonds and manufacture of diamond jewellery.

 

The principal activities of C. Mahendra Exports Ltd and its subsidiaries are:

 

• Sourcing and trading in Rough Diamonds
• Cutting and polishing of diamonds
• Manufacture of diamond jewellery
• Marketing and trading in cut and polished diamonds
• Marketing of Diamond Jewellery

Sourced From: Concept Public Relations India Pvt. Ltd