Mumbai based Tree House Education is entering into primary market with an Initial Public Offering (IPO) of 8,432,189 Equity Shares of Rs 10 each. The IPO is opening on 10th August 2011 and the shares will be available for subscription up to 12th August 2011. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has not been fixed yet. 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 for 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).
IPO Summary :-
IPO Open : 10th Aug 2011 – 12th Aug 2011
IPO Type : 100% Book Built Issue IPO
IPO Size : 8,432,189 Equity Shares of Rs 10 each
IPO Size : Rs 113.83 – 129.01 Crore
Face Value : Rs 10 Per Equity Share
IPO Price : Rs 135 – Rs 153 Per Equity Share
Minimum Bid Quantity : 40 Shares (Rs 6120 with 1 Lot) @ upper level of price band
Maximum Bid Quantity : 1280 Shares (Rs 195840 with 32 Lots ) @ upper level of price band
Listing At : BSE, NSE
The Book running lead managers to the issue are JM Financial Consultants and Motilal Oswal Investment Advisors .
Registrar of the Issue : Link Intime India Private Limited, Mumbai.
Stay tuned to BelltheBull Blog for more on Tree House Education IPO !Google+