The Hindu Business Line : Page Industries files for IPO

Page Industries Ltd, exclusive licensee of Jockey International Inc (US) for India, Sri Lanka, Nepal, Bangladesh and the Maldives, has filed its draft red herring prospectus with the Securities and Exchange Board of India to enter the capital market with an initial public offering.

It proposes to issue 28.04 lakh equity shares of Rs 10 each for cash at a premium to be decided through a 100 per cent book-building process, said a press release.

Of this, 14.12 lakh equity shares will constitute fresh issue of equity shares and the balance 13.91 lakh equity shares are an offer for sale by the promoters. The total offer constitutes 25.14 per cent of the post issue fully diluted paid-up capital of the company.

According to the release, Page Industries proposes to reserve 15,000 equity shares for allotment to eligible employees of the company. The balance 27.89 equity shares are the net offer to the public. Of this net offer, up to 50 per cent will be allocated to qualified institutional bidders, of which up to 5 per cent will be allotted to mutual funds only.

Further, 15 per cent is to be allocated to non-institutional investors and up to 35 per cent will be allocated to retail individual investors.

The company has appointed IL&FS Investsmart Ltd as the sole book-running lead manager to the issue.

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