Jun 29, 2011, 12.42 PM | Source: Moneycontrol.com
Andhra Pradesh based PCH Retail (Punjab Crockery House) proposes to tap capital market with a public issue of 1,68,27,000 equity shares of face value of Rs 10 each, diluting 38.71% stake.
The issue consists of promoters/ contribution of up to 55.27 lakh shares.
It sells consumer durables & electronics products of major brands in Andhra Pradesh, Tamil Nadu, Karnataka and Maharashtra through its 110 Multi Brand Outlets (MBOs) and 11 warehouses spread across an area of 6,21,000 sq. ft.
The company proposes to expand the retail chain by adding 100 new MBOs with an estimated area of 9.5 lakh sq f. in Tier I, Tier II and Tier II cities across India.
Total project cost estimated by the company will be Rs 269.79 crore. It also wants to repay debt of Rs 2.84 through IPO money.
Promoters Sardar Balvinder Singh and Baljit Kaur hold more than 68% stake in the company.
Company reported net profit of Rs 12 crore on its total income of Rs 741.7 crore in nine months period ended on December 2010.