PC Jewellers to hit capital market on 10 December
5 Dec 2012 4:35 AM IST
PC Jewellers will hit the capital market on 10 December with initial public offer (IPO) to raise up to Rs 609 crore for funding its expansion plans. The company has fixed the price band of IPO, comprising of over 4.51 crore equity shares, at Rs 125-135 per share having a face value of Rs 10 each. The public issue will close on 12 December. At the upper band, PC Jeweller would raise a little over Rs 609 crore through IPO, while at lower band, the company would mop up Rs 564 crore.
The IPO would constitute 25.2 per cent of the post-issue paid-up equity share capital of the company. The company is offering a discount of Rs 5 to retail individuals. In September last year, PC Jeweller had filed the draft document with market regulator Sebi for its IPO to raise funds for expansion and working capital requirement.
The firm now has 30 showrooms across India and plans to open 20 new retail showrooms by utilising funds raised through IPO. The Delhi-based jeweller had posted a turnover of about Rs 3,000 crore in 2011-12 fiscal.
The company has two jewellery manufacturing facilities in Uttarakhand that cater to domestic market and two facilities at Noida for exports market. It also export gold and diamond jewellery on a wholesale basis to distributors in Dubai, Hong Kong and Singapore.
The shares are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchabge (BSE). The book running lead managers to the IPO are SBI Capital Markets and Kotak Mahindra Capital Company and the co-book running lead manager is IDBI Capital Market Services.
The IPO would constitute 25.2 per cent of the post-issue paid-up equity share capital of the company. The company is offering a discount of Rs 5 to retail individuals. In September last year, PC Jeweller had filed the draft document with market regulator Sebi for its IPO to raise funds for expansion and working capital requirement.
The firm now has 30 showrooms across India and plans to open 20 new retail showrooms by utilising funds raised through IPO. The Delhi-based jeweller had posted a turnover of about Rs 3,000 crore in 2011-12 fiscal.
The company has two jewellery manufacturing facilities in Uttarakhand that cater to domestic market and two facilities at Noida for exports market. It also export gold and diamond jewellery on a wholesale basis to distributors in Dubai, Hong Kong and Singapore.
The shares are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchabge (BSE). The book running lead managers to the IPO are SBI Capital Markets and Kotak Mahindra Capital Company and the co-book running lead manager is IDBI Capital Market Services.
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