Tribhovandas Bhimji Zaveri Limited is entering into primary market with an Initial Public Offering (IPO) of 16,666,667 Equity Shares of Rs 10 each. The IPO is opening on 24th April 2012 and the shares will be available for subscription up to 26th April 2012. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 120 at lower level and Rs 126 at upper level. The company is likely to raise around Rs 200 Crore through the issue at the upper level of price band. Tribhovandas Bhimji Zaveri is a manufacturer and seller of gold and diamond studded jewellery. It has 14 showrooms in nine cities across five states in India and is planning to open additional 44 showrooms (26 large format high street showrooms and 18 small format high street showrooms) by the end of fiscal 2014. It has its manufacturing unit located in Kandivali, Mumbai and has a total of 904 employees.
The proceeds of the IPO amount would be used by the management to setting up new showrooms and for working capital needs.
IPO (Initial Public Offering) Summary :-
IPO Opens : 24th April 2012
IPO Closes : 26th April 2012
IPO Type : 100% Book Built Issue IPO
IPO Size : 16,666,667 Equity Shares of Rs 10 each
IPO Size : Rs 200 Crore
Face Value : Rs 10 Per Equity Share
IPO Price Band : Rs 120 to Rs 126 per share.
Minimum Bid Quantity : 45 Shares
Listing At : BSE, NSE
The Book running lead managers (BRLM) to the issue are IDFC Capital Limited and Avendus Capital Pvt Limited.
Registrar of the Issue : Karvy ComputerShare Private Limited, Hyderabad.
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