The issue will close for subscription on January 31, 2008. The price band has been fixed between Rs 200 and Rs 207 per equity share. 
 
The issue comprises a net issue of 3,400,000 equity shares of Rs 10 each after a reservation for eligible employees of 100,000 equity shares of Rs 10 each for cash at a premium. The equity shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange.
 
At least 50% of the net issue shall be allotted to qualified institutional bidders (QIBs) on a proportionate basis, of which 5% shall be available to Mutual Funds only. If at least 50% of the net issue cannot be allotted to QIBs, then the entire application money shall be refunded. Further, not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to non-institutional investors and not less than 35% of the Issue shall be available for allocation on a proportionate basis to retail individual bidders.
 
The proceeds from the proposed issue are to be deployed for setting up retail outlets across India; brand building; setting up a new apparel manufacturing unit; warehousing and logistic facilities; general corporate purposes and to meet Issue expenses.
 
At present, the company has an installed capacity of 720,000 and 540,000 pieces per annum at its two units namely Reunion Clothing Company and Formal Clothing Company respectively.  Its products are presently retailed through 157 points of sale comprising its own retail outlets large format stores and Multi Brand Outlets.
 
Presently, Bang Overseas Limited has 12 retail outlets for the sale of “Thomas Scott” out of which 9 retail outlets are company operated and 3 are franchisee operated.  The company now plans to expand its distribution network by adding 88 retail outlets across (41 to be operated by the company and 47 franchisee operated) the country for its Thomas Scott branded apparel products and fashion accessories. The Company also proposes to establish an apparel manufacturing unit in Kolar near Bangalore with a capacity of 6,00,000 pieces per month.
 
The public issue of the company has been graded by CARE, who has given CARE IPO GRADE 2, which indicates below average fundamentals to the initial public offering of the company.
 
The book running lead manager to the Issue is Almondz Global Securities Ltd.