Business Daily from THE HINDU group of publications
Tuesday, Feb 06, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Feb 06, 2007 ePaper |
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Markets
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IPOs Our Bureau
It is in the business of manufacturing and exporting accessories like caps, belts, scarves and stoles.
The issue is being made through a 100 per cent book building process, where 50 per cent of the issue shall be allocated to qualified institutional bidders; 5 per cent of the QIB portion shall be available for mutual funds. Fifteen per cent of the issue shall be available for allocation to non-institutional bidders and 35 per cent shall be allocated to retail individual investors. The issue would constitute 32.71 per cent of the fully diluted post paid up equity capital of the company. "We are looking to raise Rs 35-Rs 42 crore," said Mr Raujeev Tanjea, Managing Director of Evinix Accessories. The proceeds will fund the company's expansion costing between Rs 42 crore and Rs 49 crore. The company is looking to expand capacities of its accessories from 20 lakh pieces per annum to 35 lakh and that of garments to 30 lakh pieces per annum. Allianz Securities Ltd is the lead manager for the IPO and Beetal Financial and Computer Services is the registrar. The issue opens on February 12 and closes on February 15. Evinix is in the business of manufacturing and exporting accessories like caps, belts, scarves and stoles.
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