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.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.