Tara Jewels Limited initial
public offer (“IPO”) subscribed 1.98 times
New Delhi
November 24, 2012: The IPO
of ’Tara Jewels Limited’,
has been subscribed 1.98 times with applications for 13,500,300 equity
shares of face value of Rs. 10 each (“Equity Shares”) when the issue
closed this evening. The QIB portion was subscribed 1.49 times with
applications for 4,146,750 Equity Shares, HNI segment 3.10 times with
applications for 3,668,950 Equity Shares, retail portion 2.05 times with
applications for 5,673,600 Equity Shares and the employee reservation portion 0.14
times with applications for 11,000 Equity Shares.
’Tara
Jewels Limited’ (the “Company”),
an integrated player in the jewellery industry
with experience ranging from designing to retailing, started accepting
the bids for the IPO on Wednesday November 21, 2012 with its IPO comprising of
[●] Equity Shares for cash at a price of Rs. [●] per Equity Share including a
share premium of Rs. [●] per Equity Share, aggregating up to Rs. 1,795 million
(the “Issue”) comprising of a fresh issue of up to [●] Equity Shares by
the Company aggregating up to Rs. 1,095 million (“Fresh Issue”) and an
offer for sale of up to [●] Equity Shares by Fabrikant H.K. Trading Limited (“Selling
Shareholder”) aggregating up to Rs. 700 million (“Offer For Sale”).
The Issue includes a reservation of up to 1% of the Issue size
constituting [●] Equity Shares for the eligible employees (the “Employee
Reservation Portion”).
The Issue has been
graded by CARE Limited as IPO Grade 3/5, indicating that the fundamentals of
the IPO of the Company are average. The Price Band has been fixed at Rs 225 to
Rs. 230.
The Equity Shares
are proposed to be listed on the BSE Limited and National Stock Exchange of
India Limited.
Enam
Securities Private Limited, ICICI Securities Limited are the Book Running Lead
Managers to the Issue while Link Intime India Private Limited is the Registrar
to the Issue.
Tara
Jewels Limited is proposing, subject to market conditions and other
considerations, a public issue of securities and has filed the Red Herring
Prospectus with the Registrar of Companies, Maharashtra at Mumbai. The Red
Herring Prospectus is available on the website of the Securities and Exchange
Board of India
at www.sebi.gov.in as
well as on the websites of the book running lead managers at www.enam.com and www.icicisecurities.com.
Investors should note that investment in equity shares involves a high degree
of risk and for details relating to the same, see the section titled “Risk
Factors” on page xi of the Red Herring Prospectus.
For
further details please contact
Naresh Sharma
Concept PR
Mob. 9953291000
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