Published on Tue, Oct 10, 2006 at 18:11 | Source : Moneycontrol.com
Updated at Tue, Oct 10, 2006 at 18:14
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House of Pearl Fashions files DRHP with Sebi
House of Pearl Fashions, HoP Fashions filed its draft red herring prospectus on October 10, 2006 with the Securities & Exchange Board of India for its initial public offering of equity shares.
House of Pearl Fashions, HoP Fashions filed its draft red herring prospectus, DRHP on October 10, 2006 with the Securities & Exchange Board of India, Sebi 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, as per press release.
The company proposes to offer 61,20,600 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 48,95,400 equity shares by the company and an offer for sale of 12,25,200 equity shares by the promoters. There will be a reservation for Indian employees of 1,22,600 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 will 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 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.
The company proposes to offer 61,20,600 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 48,95,400 equity shares by the company and an offer for sale of 12,25,200 equity shares by the promoters. There will be a reservation for Indian employees of 1,22,600 equity shares of Rs 10 each. There will also be a green shoe option of 6,12,060 equity shares of Rs 10 each.
