PC Jeweller IPO oversubscribed 7 times
Public issue of jewellery manufacturer and retailer PC Jeweller has oversubscribed 6.85 times, as per data available on the National Stock Exchange.
December 12, 2012 / 22:39 IST
Public issue of jewellery manufacturer and retailer PC Jeweller has oversubscribed 6.85 times, as per data available on the National Stock Exchange.
The issue, which closed today, has received bids for 26.33 crore equity shares as against bids for 3.84 crore shares (excluding anchor investors' portion). The reserved portion of qualified institutional investors has subscribed 7.33 times while non-institutional and retail investors' portion oversubscribed 18.12 times and 1.68 times, respectively.The company that already raised nearly Rs 91 crore by allocating 67,16,250 equity shares to 10 anchor investors at upper end of price band of Rs 125-135 per share on Friday intends to use issue proceeds for setting up additional 20 showrooms by FY14 with an outlay of Rs 517 crore out of total issue size of Rs 609 crore.Jewellery manufacturer expanded its retail network from one showroom in April, 2005 to 30 showrooms plans to increase the network across India.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 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.Also Read
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