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from BUSINESS LINE, January 21, 2010 Mumbai, Jan. 20 - Madurai-based Thangamayil Jewellery announced on Wednesday that its Rs 28.75crore initial public offering will open on January 27.
The price band for the issue has been fixed at Rs 70-75 a share.
The issue will constitute 29.35 per cent of the post-issue paid-up capital at the lower end of the price band and 27.94 per cent at the upper end.
"We will be offering approximately 40 lakh shares to the public through the issue," said Mr K.N. Rajagopalan, Partner at B. Thiagarajan & Co, the auditors to the company and advisors to the issue.
The issue will close on January 29 and the shares of the company will be listed on the Bombay Stock Exchange and National Stock Exchange.
Fifty per cent of the shares on offer have been reserved for qualified institutional buyers.
Reservation for non-institutional investors is 15 per cent and that for retail investors is 35 per cent.
The proceeds from the issue will be used to open retail outlets at Tuticorin, Dindigul, Theni, Nagercoil, Thirunelveli, Kovilpatti and Sivakasi.
The issue has been has graded 3/5 by rating agency Brickwork Ratings, indicating average fundamentals.
Keynote Corporate Services are the sole book running lead managers to the issue.
The price band for the issue has been fixed at Rs 70-75 a share.
The issue will constitute 29.35 per cent of the post-issue paid-up capital at the lower end of the price band and 27.94 per cent at the upper end.
"We will be offering approximately 40 lakh shares to the public through the issue," said Mr K.N. Rajagopalan, Partner at B. Thiagarajan & Co, the auditors to the company and advisors to the issue.
The issue will close on January 29 and the shares of the company will be listed on the Bombay Stock Exchange and National Stock Exchange.
Fifty per cent of the shares on offer have been reserved for qualified institutional buyers.
Reservation for non-institutional investors is 15 per cent and that for retail investors is 35 per cent.
The proceeds from the issue will be used to open retail outlets at Tuticorin, Dindigul, Theni, Nagercoil, Thirunelveli, Kovilpatti and Sivakasi.
The issue has been has graded 3/5 by rating agency Brickwork Ratings, indicating average fundamentals.
Keynote Corporate Services are the sole book running lead managers to the issue.
