Indian IPO

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Monday, January 16, 2006

INOX Leisure fixes price band for its IPO

INOX Leisure, which operates a chain of multiplexes at premium locations in 7 cities across India under the 'INOX' brand, has fixed price band at Rs 100-120 per share for its forthcoming initial public offer, IPO, of equity shares as approved by the board of directors of the company on January 12, 2006, according to a release.

The company is entering the capital market with an offer of 1,65,00,000 equity shares of Rs 10 each for cash to be decided through the book-build process.

The offer consists of a fresh issue of 1,20,00,000 equity shares, of which 2,00,000 equity shares are reserved for allotment to permanent employees of the company, and an offer for sale of 45,00,000 equity shares of Rs 10 each by Gujarat Fluorochemicals, the promoter of the company.

The net issue to public, exclusive of the reservation of permanent employees, would be 1,63,00,000 equity shares.

Of the net issue to public, 50% has been reserved for allotment to qualified institutional buyers, of which 5% is reserved for allotment to mutual funds; 15% to non-institutional investors and the balance 35% to retail investors on a proportionate basis.

The issue will constitute 27.17% of the fully diluted post issue paid up capital of the company.


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