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Our Bureau

Mumbai , May 4

Mumbai-based Renaissance Jewellery has filed draft prospectus for its initial public offer (IPO) with the Securities and Exchange Board of India.

The company intends to offer 35.10 lakh equity shares of Rs 10 each at a price to be fixed through the book-building route.

The issue would constitute 35 per cent of the fully diluted post issue paid-up capital of the company.

"We have filed the red herring draft prospectus with Securities and Exchange Board of India on April 28 last, and when to hit the market depends on market conditions," Mr Hitesh Shah, Executive Director, Renaissance Jewellery Ltd, said in a release. A 100 per cent export oriented unit (EOU), Renaissance Jewellery is a leading manufacturer of studded gold, platinum and silver jewellery for over 10 years. The company has manufacturing unit at Mumbai (two units located at SEEPZ, SEZ, Andheri, Mumbai) and one unit at Bhavnagar, Gujarat.

More Stories on : IPOs | Gems & Jewellery

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