Prime Retail India IPO : Files DRHP with SEBI

by khalid on 05/04/2011 · 1 comment

Kolkatta based Prime Retail India Limited has informed the share market(BSE/NSE) that they have planning to enter capital markets with its initial public offer (IPO) of 7500000 shares of Rs 10 each. The issue will constitute 45.10% of the post issue paid up capital of the company. The company has filed a Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for the same. The premium to be decided via 100% book building process. The IPO price band has not been decided yet. Prime Retail India is an international luxury, designer and fashion watch brand retailer dealing through its chain of retails stores. Company is presently operating 20 stores.

The proceeds of the IPO will be used by the company to open 18 additional new stores across India to accomplish a Pan India presence and for setting up brand retail outlets, capex stores for proposed outlets, upgradation of information technology network and working capital requirements.

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

The Sole Book Running Lead Manager to the Issue is Hem Securities Limited.

The company has posted a net profit of Rs 1.62 crore on total income of Rs 32.05 crore for the period of six months ended on September 2010.

Stay tuned to BelltheBull Blog for more news on Prime Retail India IPO !

Related Posts Plugin for WordPress, Blogger...

Leave a Comment

{ 1 comment… read it below or add one }

Ritesh Poojari August 2, 2011

This company has given lot of misleading informations in the DRHP. As a investor i have sent my comments to SEBI kolkata, Mumbai and also 2 Chairman , BSE & NSE also. One of the official from Kolkata sebi is saying that lead manager ( M/s. Hem Securities) is going to give clarifications to investors comments. 4 month crossed we have not received any reply neither from SEBI nor from the Lead manager nor from the Compliance officer of the Company. Now my question is why sebi is not taking legal action against such companies and the lead managers who’s trying ti fool investors as well as regulatories by filing misleading / malafied informations contained DRHP ???? They are planning to investores hard earned money .

Reply

Previous post:

Next post: