Indian IPO

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Saturday, September 02, 2006

Richa Knits IPO opens on Sept 13

Richa Knits has decided to make a public issue of 9 million equity shares of Rs 10 each for cash at a premium of Rs 20 per equity share at a price of Rs 30 per equity share aggregating to Rs 2700 lakhs (the issue).

The public issue also includes promoter`s participation of 1.5 million equity shares of Rs 10 each for cash at a price of Rs 30 per equity share.

The issue opens on 13 September 2006 and closes on 19 September 2006.

The company has decided to compulsorily allot 10% of the total issue, comprising 7.5 lakh equity shares to QIBs.

Besides, 7.5 lakh equity shares of Rs 10 each for cash at a price of Rs 30 per equity share would be reserved for NRIs/FIIs, while 3.75 lakh equity shares of Rs 10 each for cash at a price of Rs 30 per equity share would be reserved for the employees.

The net issue to the public stands at 5.62 million equity shares of Rs 10 each for cash at a price of Rs 30 per equity share.

The minimum application size is 180 equity shares and in multiples of 180 equity shares thereafter. The payment on application is Rs 15 and on allotment, it is Rs 15.

KJMC Global Market (India) is the lead manager to the issue and Intime Spectrum Registry would be the registrar to the issue.

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