Joyalukkas India IPO : Files DRHP with SEBI

by khalid on 01/02/2011 · 0 comments

Kochi based Joyalukkas India Limited has informed the share market (BSE/NSE) that they have planning to enter the capital market with its maiden public issue of 18,000,000 equity shares of Rs 10 each. The issue constitutes 26.46% post issue paid up capital of the company. The company has filed a Draft Red Herring Prospectus (DRHP) on 23rd January 2011 with market regulator Securities and Exchange Board of India (SEBI). The premium to be decided via 100% book building process. The IPO launching date is depend on the market conditions as per company sources. Joyalukkas India Limited is a jewellery retailer company with focus on large format stores and is also engaged in textiles, apparels and accessories through its Wedding Centres in Kerela. The company started retailing jewellery with the launch of first retail store at Kottayam in Kerala. From 13 stores in 2008, it currently has 22 stores in 21 cities in India.

The proceeds of the IPO amount would be used by the company to opening new retail outlets, repay/prepay outstanding debt and for other corporate purposes. The company is planning to open 14 addtional outlets in 14 cities by September 2013.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The Book running lead managers to the issue are Enam Securities Private Limited Citigroup Global Markets India Private Limited.

Registrar of the Issue : Link Intime India Private Limited.

Recently, Dimaond Jewellery firm C Mahendra Exports raised Rs.165 Cr through issue of 1.5 Cr equity shares at an issue price of Rs.100 per share.

Stay tuned to BelltheBull Blog for more news on Joyalukkas India Limited IPO !

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