PC Jeweller to announce Rs 570-cr IPO

plans to raise up to Rs 570 crore through initial public offer (IPO) for opening of 20 new retail showrooms across the country.

The Delhi-based jeweller, which currently has 20 stores, had filed the draft red herring prospectus (DRHP) with the market regulator Sebi last week, to launch its of 4.51 crore equity shares of Rs 10 each.

"We intend to deploy Rs 569.85 crore for establishing 20 new retail showrooms in 20 cities in different parts of the country in fiscal 2013 and fiscal 2014," the company said in the DRHP.

The net proceeds of the issue would be utilised towards capital expenditure that includes costs relating to interior works of the showrooms and cost of finished products to be stocked in such stores, it added.

PC Jeweller posted a net profit of Rs 146.7 crore over a turnover of Rs 1,993.84 crore during the last fiscal.

The company has two jewellery manufacturing facilities in Uttarakhand that cater to domestic market and two facilities at Noida for exports market.

In addition to retail operations, the company sells gold and diamond jewellery on a wholesale basis to other jewellery retailers in India.

It also export gold and diamond jewellery on a wholesale basis to distributors in Dubai, Hong Kong and Singapore. In the last fiscal, exports contributed about 34% to the company's total income.

The issue constitutes 25.20% of the post-issue paid-up capital. At present, promoters hold 93.61% stake in the company.

The book running lead managers are SBI Capital Markets and Kotak Mahindra Capital Company and the co-book running lead manager is IDBI Capital Market Services.

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Business Standard

PC Jeweller to announce Rs 570-cr IPO

Press Trust of India  |  New Delhi 



plans to raise up to Rs 570 crore through initial public offer (IPO) for opening of 20 new retail showrooms across the country.

The Delhi-based jeweller, which currently has 20 stores, had filed the draft red herring prospectus (DRHP) with the market regulator Sebi last week, to launch its of 4.51 crore equity shares of Rs 10 each.

"We intend to deploy Rs 569.85 crore for establishing 20 new retail showrooms in 20 cities in different parts of the country in fiscal 2013 and fiscal 2014," the company said in the DRHP.

The net proceeds of the issue would be utilised towards capital expenditure that includes costs relating to interior works of the showrooms and cost of finished products to be stocked in such stores, it added.

PC Jeweller posted a net profit of Rs 146.7 crore over a turnover of Rs 1,993.84 crore during the last fiscal.

The company has two jewellery manufacturing facilities in Uttarakhand that cater to domestic market and two facilities at Noida for exports market.

In addition to retail operations, the company sells gold and diamond jewellery on a wholesale basis to other jewellery retailers in India.



It also export gold and diamond jewellery on a wholesale basis to distributors in Dubai, Hong Kong and Singapore. In the last fiscal, exports contributed about 34% to the company's total income.

The issue constitutes 25.20% of the post-issue paid-up capital. At present, promoters hold 93.61% stake in the company.

The book running lead managers are SBI Capital Markets and Kotak Mahindra Capital Company and the co-book running lead manager is IDBI Capital Market Services.

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PC Jeweller to announce Rs 570-cr IPO

PC Jeweller plans to raise up to Rs 570 crore through initial public offer (IPO) for opening of 20 new retail showrooms across the country.

plans to raise up to Rs 570 crore through initial public offer (IPO) for opening of 20 new retail showrooms across the country.

The Delhi-based jeweller, which currently has 20 stores, had filed the draft red herring prospectus (DRHP) with the market regulator Sebi last week, to launch its of 4.51 crore equity shares of Rs 10 each.

"We intend to deploy Rs 569.85 crore for establishing 20 new retail showrooms in 20 cities in different parts of the country in fiscal 2013 and fiscal 2014," the company said in the DRHP.

The net proceeds of the issue would be utilised towards capital expenditure that includes costs relating to interior works of the showrooms and cost of finished products to be stocked in such stores, it added.

PC Jeweller posted a net profit of Rs 146.7 crore over a turnover of Rs 1,993.84 crore during the last fiscal.

The company has two jewellery manufacturing facilities in Uttarakhand that cater to domestic market and two facilities at Noida for exports market.

In addition to retail operations, the company sells gold and diamond jewellery on a wholesale basis to other jewellery retailers in India.

It also export gold and diamond jewellery on a wholesale basis to distributors in Dubai, Hong Kong and Singapore. In the last fiscal, exports contributed about 34% to the company's total income.

The issue constitutes 25.20% of the post-issue paid-up capital. At present, promoters hold 93.61% stake in the company.

The book running lead managers are SBI Capital Markets and Kotak Mahindra Capital Company and the co-book running lead manager is IDBI Capital Market Services.

image
Business Standard
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