PC Jeweller's Rs 609cr IPO opens for subscription
Jewellery manufacturer, retailer and exporter PC Jeweller has opened its Rs 609 crore initial public offer (IPO) for subscription today. The price band is fixed between Rs 125 and Rs 135 per share.
December 10, 2012 / 11:57 IST
Jewellery manufacturer, retailer and exporter PC Jeweller has opened its Rs 609 crore initial public offer (IPO) for subscription today. The price band is fixed between Rs 125 and Rs 135 per share.
The 4.51-crore equity shares IPO 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 company raised nearly Rs 91 crore by allocating 67,16,250 equity shares to 10 anchor investors at upper end of price band on Friday.Also Read:
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PC Jeweller plans 20 new stores by FY14 from IPO proceedsThe issue will close on Wednesday, December 12 for all bidders. Bids can be made for a minimum of 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. Jewellery manufacturer that expanded its retail network from one showroom in April, 2005 to 30 showrooms plans to increase the network across India with another 20 showrooms by FY14, which will be financed through net issue proceeds of Rs 517 crore.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. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
