694 Investors following Thangamayil. Share this News with them.
0
Like this story, share it with millions of investors on M3
Thangamayil Jewellery IPO opens today
The initial public offering (IPO) of Rs 28.75 crore of Thangamayil Jewellery has opened for subscription today. The price band for the issue is at Rs 70-75 per equity share. The issue will close on January 29.
The initial public offering (IPO) of Rs 28.75 crore of Thangamayil Jewellery has opened for subscription today. The price band for the issue is at Rs 70-75 per equity share. The issue will close on January 29.
The company intends to use issue proceeds for expansion of existing business by establishing retail outlets at Tuticorin, Dindigul, Theni, Nagercoil, Tirunelveli, Kovilpatti and Sivakasi, and for renovation of the existing outlet at Madurai; working capital requirement and issue expenses.
For the year ended March 31, 2009, it has reported 10% jump in its net sales of Rs 246.84 crore and net profit of Rs 7.49 crore.
It is one of the leading jewellery retailers in Madurai and trades in Gold Jewellery, Diamond and Platinum jewels. It has introduced the Hallmarking practice for the first time in Madurai.
Equity shares are proposed to be listed on the BSE and NSE. The book running lead manager to the issue is Keynote Corporate Services Limited and SKDC Consultants Limited is the registrar.
