Tree House Education IPO : Fixes issue price at Rs 135 per share

by khalid on 22/08/2011 · 0 comments

Mumbai based Tree House Education have fixed the issue price of its initial public offering (IPO) at Rs 135 per share, at the upper end of price band which was Rs 135 – Rs 153 Per Equity Share. The issue was open for subscription during 10th Aug 2011 and 12th Aug 2011. The company is likely to raise around Rs 129.01 crore through the issue at the upper level of price band. Tree House Education supplies different types of duplex board cartons to over 100 clients in various sectors like FMCG, pharma, electricals, auto ancillary and food.

The IPO proceeds will be used by Tree House Education Limited for the expansion of its pre-school business (Rs.41.3 Cr), acquisition of office space (Rs.11 Cr), procurement of exclusivity rights to provide educational services (Rs.15.6 Cr), construction of infrastructure for educational complexes in Rajasthan and Gujarat (Rs.40 Cr), repayment of loan (Rs.28.58 Cr) and for other corporate purposes.

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

The Book running lead managers to the issue are JM Financial Consultants and Motilal Oswal Investment Advisors .

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

Stay tuned to BelltheBull Blog for more on Tree House Education IPO !

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