Timbor Home IPO opens for subscription

Timbor Home, a manufacturer-retailer having a Pan-India presence with more than 80 exclusive stores of kitchen, door and furniture retail outlets, has opened its initial public offer of 36.9 lakh equity shares for subscription today.

The issue would constitute 25% of the fully diluted post Issue paid-up equity capital of the company. The price band has fixed between Rs 54 and Rs 63 per equity share. The minimum bid lot will be 90 equity shares and in multiples of 90 equity shares thereafter. The issue will close on June 2, 2011. The Issue is being made through the 100% book building process, wherein upto 50% of the net issue shall be available for allocation on a proportionate basis to QIBs, out of which 5% shall be available for allocation on a proportionate basis to mutual funds only. The remainder of the QIB portion shall be available for allocation on a proportionate basis to qualified institutional buyers, including mutual funds, subject to valid bids being received at or above the issue price. Further, not less than to 35% of the net issue shall be available for allocation on a proportionate basis to retail individual bidders and not less than 15% of the net issue shall be available for allocation on a proportionate basis to non-institutional bidders, subject to valid bids being received at or above the issue price. The equity shares are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The book running lead manager to the Issue is Corporate Strategic Allianz Limited. Timbor Home operates as a manufacturer-retailer having a pan-India presence with exclusive stores of kitchen, door and furniture retail outlets operating on franchise model. Timbor Home Limited markets its products under the brand names Timbor Cucine - Modular Kitchens; Timbor Doors - Doors & Door Frames; Timbor Home - Home Furniture; and IKI Kitchens - Hi-end kitchen solutions using