Ratanchand Jewellers IPO : Files DRHP with SEBI

by khalid on 13/02/2011 · 0 comments

Bangalore based Ratanchand Jewellers Limited has informed the share market (BSE/NSE) that they have planning to enter the capital market with its maiden public issue of Rs 150 crore. The company has filed a Draft Red Herring Prospectus (DRHP) 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. Ratanchand Jewellers is a manufacturer and exporter of gold jewellery ornaments and its products include handmade and machine made, plain gold and gold enamelled jewellery and gold jewellery studded with precious and semi precious stones such as rubies, emeralds, pearls, etc. and semi-precious stones such as garnet, cubic zirconium, etc.

The proceeds of the IPO amount would be used by the management to setting up a new manufacturing unit in Hyderabad, to open 12 retail stores, office in Dubai, upgrade existing manufacturing units in Bangalore and for other corporate purposes.

Entire 100% stake in the company is held by promoters – Lalith Ramani, Vijaya Ramani, Nitesh Ramani and promoter group.

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 (BRLM) to the issue are PNB Investment Services Ltd and Karn Merchant Bankers Ltd.

Registrar of the Issue : Karvy Computershare Private Limited.

Recently, Tribhovandas Bhimji Zaveri Ltd and Joyalukkas India Ltd have also filed DRHPs for 16.66 Mn and 18 Mn shares respectively.

Stay tuned to BelltheBull Blog for more news on Ratanchand Jewellers Limited IPO !

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