Thangamayil Jewellery to list on February 19

Thangamayil Jewellery Ltd. will officially list on the Indian capital markets on February 19, 2010. The issue price of the IPO was fixed at Rs 75 per share at higher end of the price band of Rs 70-75.

The Rs 28.75 crore initial public offering (IPO) opened for subscription during January 27-29 and was subscribed 1.12 times. Retail and non-institutional investors supported the issue, with their reserved portion being subscribed 2.26 times and 1.52 times, respectively.

The company currently has showrooms at Madurai, Ramanathapuram, Rajapalayam, Kariakudi and Dindigul and intends to use the proceeds of the issue to expand existing business by establishing retail outlets at Tuticorin, Theni, Nagercoil, Thirunelveli, Kovilpatti and Sivakasi and to renovate the existing outlet at Madurai.

The Company has achieved a turnover of Rs. 247 crores with the PAT of Rs. 7.49 crores for the financial year ended March 2009 and for six months period ended September 2009 the Company has achieved a turnover of Rs. 209 crores with the PAT of Rs. 7.97 crores.

Keynote Corporate Services Ltd. is the Sole Book Running Lead Manager to the issue and S.K.D.C. Consultants Ltd. is the Registrar to the issue.