18 April 2012

Tribhovandas sets price band for 200 cr IPO

ewellery retailer Tribhovandas Bhimji Zaveri Ltd set a price band of Rs 120-126 a share for its up to initial public offering. The issue size at the upper end of the price band works out to about Rs 210 crore.

Subscriptions to the 16.66-million-share issue will begin on April 24 and close on April 26, the company said in a newspaper advertisement on Wednesday.

A stock market rebound has boosted the outlook for share sales in India this year, with the recent offering from MCX receiving strong demand from investors.

IDFC Capital and Avendus are the lead bookrunners for Tribhovandas' share issue.

Tribhovandas has 14 showrooms across India, according to its website. It competes with jewellery retailers such as Gitanjali Gems, Titan Industries and Thangamayil Jewellery.

SOURCE: http://business-standard.com/india/news/tribhovandas-sets-price-band-for-200-cr-ipo/163201/on
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