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Celebrity Fashions IPO price band fixed at Rs 160-180

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Mr V. Rajagopal, CMD, Celebrity Fashions Ltd, at a press conference in Mumbai on Thursday. Paul Noronha
Mr V. Rajagopal, CMD, Celebrity Fashions Ltd, at a press conference in Mumbai on Thursday. Paul Noronha

Our Bureau

Mumbai, Dec. 15

CELEBRITY Fashions Ltd, the owner of the brand Indian Terrain, is entering the capital market on December 19 with an initial public offering of 45.5 lakh equity shares of Rs 10 each through 100 per cent book-building process.

The issue closes on December 22 and the price band has been fixed at Rs 160 to Rs 180 per equity share.

The issue will constitute 25.35 per cent of the fully diluted post-issue paid-up capital.

With 50,000 equity shares reserved for employees, the net issue to the public would of 45 lakh equity shares.

The company proposes to use the funds to part finance the acquisition of a trouser facility and to set up exclusive Indian terrain stores.

It proposes to set up 20 exclusive Indian Terrain stores in next three years as also a new factory.

(This article was published in the Business Line print edition dated December 16, 2005)
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