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Private Equity | 24 April 2012

HSBC, Credit Suisse Invests R30Cr in TBZ

by Irfan Khan
HSBC, Credit Suisse Invests R30Cr in TBZ
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HSBC and Credit Suisse has invested around R30Cr in Mumbai-based Tribhovandas Bhimji Zaveri Limited through anchor investment.

Three investors - HSBC Global Investment Funds, HSBC India Alpha (Mauritius) and Credit Suisse subscribed to 24,99,999 equity shares at lower end of price band of R120-126 a share.

IPO of TBZ has opened for subscription today. The issue, which closes on April 26, consists of 1.66 crore equity shares.

The IPO proceeds will be used for setting up new showrooms and for working capital needs.

IDFC Capital Limited and Avendus Capital are the book running lead managers to the issue.

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