PC Jeweller to raise up to $111 million from IPO

PCEJEWELLER-IPO:PC Jeweller to raise up to $111 million from IPO

 

REUTERS - Jewellery retailer PC Jeweller Ltd plans to raise up to $111 million through an initial public offering opening (IPO) on December 10.

PC Jeweller said it would offer 45.1 million shares, or about a quarter of its equity capital, in the IPO. It set a price band of between 125 rupees and 135 rupees a share.

At the upper end of the price band, the issue will raise 6.09 billion rupees, and 5.64 billion rupees at the lower end.

The company has reserved 358,500 shares for its employees, and will give a discount of 5 rupees a share to employees and retail investors, it said in a statement.

SBI Capital Markets Ltd and Kotak Mahindra Capital Co Ltd are the lead advisers for the share sale, which closes on December 12.