Goenka Diamond and Jewels IPO : Finally subscribed 1.07 times

by khalid on 01/04/2010 · 0 comments

Goenka Diamond and Jewels IPO has been subscribed fully. However, the overall subscription of 1.07 times has only been possible due to subscription from HNI Category, which is subscribed 3 times, with the other two categories receiving less than 100% subscription. The response from the Retail Investors has also not been keen with the IPO getting subscribed only 66% in the Retail Category.

The category-wise subscription status of Goenka Diamond and Jewels IPO on closing day is given below:-

QIB: 0.78 times
Non-Institutional Investors: 3.00 times
Retail: 0.66 times
Overall: 1.07 times

The proceeds of the IPO will be used to meet the expenses of establishing stores for our G WILD brand, to meet the expenses of establishing stores for our CERES brand (¯CERES stores), to meet working capital requirements for jewellery business, to meet the expenses of establishing a jewellery manufacturing facility in Mumbai, to meet the expenses of establishing a diamond processing facility in Mumbai and further invest in the equity capital of our Subsidiary.

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

Issue Detail:-
Issue Open : 23rd Mar 2010
Issue Closes : 26th Mar 2010
Issue Type : 100% Book Building Issue
Issue Size : 10000000 Equity Shares of Rs 10 each
Issue Size : Rs. 135 crores to Rs 145 crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 135 – Rs. 145 Per Equity Share
Market Lot : 40 Equity Shares
Minimum Order Quantity : 40 Equity Shares
Listing At : BSE, NSE

Book running lead managers to the issue is SBI Capital Markets Limited

Registrar of the Issue is Karvy Computershare Private Limited, Hyderabad.

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