Olympic Cards IPO : Files DRHP with SEBI

by khalid on 13/12/2010 · 0 comments

Chennai based Olympic Cards Limited has informed the share market (BSE) that they have planning to enter capital markets with its maiden IPO (Initial Public Offering) of 81,81,000 equity shares of Rs 10 each constituting Rs — crore. The company has filed a Draft Red Herring Prospectus (DRHP) on 5th December 2010 with market regulator Securities and Exchange Board of India (SEBI). The premium to be decided via 100% book building process. The IPO price band has not been decided yet. The Issue, which will be through a 100% book building process, shall constitute 48.12% of the post-issue paid up equity capital of the Company. Currently the promoter’s hold 96.38% in the company. Olympic Cards is the manufacturer and supplier of invitation cards for all occasions. Under the brand “OLYMPIC”, it manufacturers paper / board based products, with a strong presence in the southern India. It is also undertakes trading in printing inks. Its wedding invitation cards account for more than 45% of its total sales.

The proceeds of the IPO amount would be used by the company to set up a manufacturing unit near Chennai, for capital expenditure towards establishment of 4 own retail outlets in southern region of India and for other general purposes.

Promoters of the company are N M Habibullah and H Noor Mohamed.

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 sole book running lead manager to the issue is Ashika Capital Limited .

Registrar of the Issue : Karvy Conputershare Private Limited, Hyderabad.

Stay tuned to BelltheBull Blog for more on Olympic Cards IPO !

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