PC Jeweller to debut on Dec 27: Will it list at premium?
Jewellery manufacturer and retailer PC Jeweller will list its equity shares on exchanges on Thursday, December 27, 2012. The issue price is fixed at higher end of price band of Rs 125-135 per share.
December 27, 2012 / 09:13 IST
Jewellery manufacturer and retailer PC Jeweller will list its equity shares on both the exchanges on Thursday, December 27, 2012. The issue price is fixed at higher end of price band of Rs 125-135 per share for qualified institutional and non-institutional investors while for retail investors it is Rs 130.
Experts have mixed opinion regarding the listing price of this stock. IPO Analyst, Arun Kejriwal feels the PC Jeweller will list at around Rs 140-145 and the trading range for the day is Rs 137-150. According to him, one should buy it around Rs 140 as the stock is reasonably priced as compared to Tara Jewels and TBZ.Meanwhile, Manish Bhatt of Prabhudas Lilladher said investor, who has a long term view, could buy the stock at around its issue price. "It will list with 10 percent premium to issue price," he added. However, SP Tulsian of sptulsian.com expects the stock to list at its issue price. One should wait for the stock to settle down before buying it, he recommended. Its public issue, which opened during December 10-12, was oversubscribed 6.85 times. The reserved portion of qualified institutional investors subscribed 7.33 times while non-institutional and retail investors' portion oversubscribed 18.12 times and 1.68 times, respectively.PC Jeweller raised more than Rs 600 crore through the issue, out of which nearly Rs 91 crore was raised by allocating 67,16,250 equity shares to 10 anchor investors. It intends to use issue proceeds for setting up additional 20 showrooms by FY14 with an outlay of Rs 517 crore.The equity shares offered through the issue are proposed to be listed on the National Stock Exchange of India Limited and the BSE Limited.Also Read
CARE closes at 23% premium on listing day
SME IPO: Eco Friendly Food Processing to open on Dec 27 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!
