Birla Pacific Medspa IPO (initial public offering) : Sets IPO price band at Rs 10 to Rs 11

by khalid on 17/06/2011 · 0 comments

Birla Pacific Medspa Limited is entering into primary market with an Initial Public Offering (IPO) of — Equity Shares of Rs 10 each. The IPO is opening on 20th Jun 2011 and the shares will be available for subscription up to 23rd Jun 2011. The premium of the issue will be decided through a 100% Book Building Process. Birla Pacific Medspa Limited sets IPO price band at Rs 10 to Rs 11. The company is likely to raise around Rs 65.18 Crore through the issue at the upper level of price band. Birla Pacific Medspa Limited is a joint venture company of Yash Birla group and East Asia’s leading healthcare provider Pacific Healthcare which have presence in Singapore, Hong Kong, and China. Birla Pacific Medspa operates in healthcare centers under the brand name “EVOLVE” provides beauty related medical procedures in India.

The proceeds of the IPO are proposed to be utilized for capital expenditure towards establishing 55 outlets of Evolve Medspa across various cities and places, brand promotion and working capital for running the above centres.

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

IPO Summary :-
IPO Open : 20th Jun 2011 – 23rd Jun 2011
IPO Type : 100% Book Built Issue IPO
IPO Size : —-Equity Shares of Rs 10 each
IPO Size : Rs 65.18 Crore
Face Value : Rs 10 Per Equity Share
IPO Price : Rs 10 – Rs 11 Per Equity Share
Minimum Bid Quantity : 500 Shares (Rs.5500 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 18000 Shares (Rs.198000 with 36 Lots ) @ upper level of price band
Listing At : BSE, NSE

The Sole Book running lead manager (BRLM) to the issue is Arihant Capital Markets Limited.

Registrar of the Issue : Adroit Corporate Services Pvt Limited

Stay tuned to BelltheBull Blog for more on Birla Pacific Medspa IPO !

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