PC Jeweller Ltd has launched its initial public offering worth about Rs 600 crore at a price band of Rs 125-135 a share. The IPO will open on December 10, and will close on December 12, for all bidders.
Discount to retail investors
The company is offering a discount of Rs 5 to retail individuals.
The Delhi-based jeweller has offered close to 4.5 crore shares and plans to raise anywhere between Rs 564 crore (at the lower end of the price band) and Rs 609 crore (at the upper end of the price band).
The company proposes to utilise the IPO funds for its expansion plans and towards working capital requirements.
Through this IPO, the company plans to dilute about 25 per cent of its stake. Of the 4.5 crore shares on offer, about 3.5 lakh shares have been reserved for eligible employees. Bids to be made are for a minimum of 90 equity shares and in multiples of 90 equity shares thereafter.
The issue is proposed to be listed on the BSE and the NSE.
The book running lead managers to the issue are SBI Capital Markets and Kotak Mahindra Capital Company and the co—book running lead manager is IDBI Capital Market Services.
Sneha.p@thehindu.co.in