House of Pearl Fashions Ltd files DRHP with Sebi

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House Of Pearl Fashions Ltd ("HoP Fashions" or the "Company") filed its Draft Red Herring Prospectus (DRHP) on October 10, 2006 with the Securities & Exchange Board of India for its Initial Public Offering ("IPO") of equity shares. HoP Fashions is a multinational, ready-to-wear apparel company operating in three distinct business streams: manufacturing, marketing & distribution and sourcing of garments. 

 

The company proposes to offer 6,120,600 equity shares of Rs 10 each for cash at a price to be determined through the 100% book-building process, comprising a fresh issue of 4,895,400 equity shares by the company and an offer for sale of 1,225,200 equity shares by the promoters. There will be a reservation for Indian employees of 122,600 equity shares of Rs 10 each. There will also be a green shoe option of 6,12,060 equity shares of Rs 10 each..

 

The equity shares are proposed to be listed on the National Stock Exchange and Bombay Stock Exchange.

 

At least 50% of the net offer to the public shall be allocated on proportionate basis to Qualified Institutional Buyers (QIBs) and 15% of the offer is reserved for non-institutional investors. 35% of the offer is reserved for retail investors.

 

JM Morgan Stanley Private Limited is the sole Book Running Lead Manager for the IPO.

 

Sourced From: Adfactors Public Relations Pvt Ltd