PC Jeweller is proposing an initial public offer (IPO) comprising of 45,133,500 equity shares of face value of Rs 10 each. The price band has been fixed between Rs 125 and Rs 135 per share.
The issue which opens for subscription on Monday, December 10, 2012, will close on Wednesday, December 12 for all bidders.
The issue comprises of a net issue of 44,775,000 equity shares by the company and a reservation of 358,500 equity shares for subscription by the eligible employees. The issue shall constitute 25.20 percent of the post issue paid-up equity share capital and the net issue shall constitute 25 percent of the post issue capital.
The minimum bid lot has been fixed at 90 equity shares and in multiples of 90 equity shares thereafter. Discount of Rs 5 to the issue price is being offered to retail individual bidders and eligible employees bidding in the employee reservation portion.
The issue has been graded by Credit Analysis and Research Limited and CRISIL Limited as grade 3 indicating average fundamentals.
50% of the net issue will be allocated on a proportionate basis to qualified institutional buyers. The company may allocate up to 30% of the QIB portion to anchor investors, on a discretionary basis, out of which at least one-third shall be reserved for domestic mutual funds, subject to valid bids being received from domestic mutual funds at or above the anchor investor issue price. The anchor investor bidding date shall be one working day prior to the issue opening date.
Further, 5% of the QIB portion (excluding the anchor investor portion) shall be available for allocation on a proportionate basis to mutual funds only. The remainder shall be available for allocation on a proportionate basis to QIBs, including mutual funds, subject to valid Bids being received from them at or above the Issue Price.
Further, not less than 15% of the net issue will be available for allocation on a proportionate basis to non institutional bidders and not less than 35% of the net issue will be available for allocation to retail individual bidders.
The book running lead managers to the issue are SBI Capital Markets Limited and Kotak Mahindra Capital Company Limited. The co-book running lead manager to the issue is IDBI Capital Market Services Limited.
The equity shares offered through the issue are proposed to be listed on the National Stock Exchange of India Limited and the BSE Limited. BSE Limited is the designated stock exchange for the issue.
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