PC Jeweller To Raise Funds Through IPO
PC Jeweller Limited is raising R609 Cr through IPO by offering 45,133,500 shares which constitutes 25.2% of the post issue paid-up equity capital. The fund raise will be used to finance establishment of new showrooms and for general corporate purpose.
The Company has set the price band of R125-135 for the issue which will be open from 10th December to 12th December’12.
SBI Capital Markets and Kotak Mahindra Capital Company are the book running lead managers, while IDBI Capital Market Services is the co-book running lead manager for the issue.
Incorporated in 2005 by Padam Chand Gupta and Balram Garg, PCJL is engaged in the business of manufacturing and selling of gold and diamond-studded jewellery to wholesale /retail customers in domestic and export markets.
PCJL sells its jewellery under the brand 'PC Jeweller'. PCJL has 30 showrooms located in North and Central India.
The company has two manufacturing units located at Selaqui, Dehradun, Uttarakhand that cater to the company’s sales in India. In addition it has two jewellery manufacturing facilities at the Noida SEZ, Uttar Pradesh, that cater to export sales.
In November 2011, the company commenced manufacturing operations at an additional 34,000 sq ft jewellery manufacturing facility at Noida.
The listed peers in the space includes – Titan Industry, Gitanjali Gems and Tribhovandas Bhimji Zaveri
Recently, Tara Jewels Limited filed DRHP to raise R220Cr comprising of a fresh issue of R150Cr and an offer for sale of R70Cr by Fabrikant H.K Trading Ltd.
Austrian Firm – Swarovski was planning to buy a minority (10-12%) stake in Tara Jewels, according to ET.
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|2012-12-04||PC Jeweller - IPO||IPO / Offerings||111.62|
|PC Jeweller Limited||
Padam Chand Gupta
Padam Chand Garg
Amar Chand Garg
|24/2708, Bank Street, Karol Bagh,||www.pcjewellers.com|
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