Indian IPO

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Friday, January 13, 2006

Jagran Prakashan fixes price band for its IPO

Jagran Prakashan, JPL, has fixed the price band for its forthcoming initial public offering of equity shares of Rs 10 each at Rs 270-324 per equity share.

JPL, publishers of the largest read Hindi daily newspaper Dainik Jagran, will enter the capital market with a public issue of 1,15,44,873 equity shares of Rs 10 each, comprising of a fresh issue of 1,00,39,020 equity shares, and a greenshoe option of upto 15,05,853 equity shares. The price is to be determined through a 100% book build process.

The public issue will constitute 20% of the fully diluted post-issue equity share capital of JPL assuming that the greenshoe option is not exercised and 22.33% of the post-issue capital of JPL, if the greenshoe option is exercised in full.

The company has appointed DSP Merrill Lynch and ICICI Securities as the book running lead managers for the public issue.


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