New Delhi: Ahead of its Rs 609 crore Initial Public Offer scheduled to open on Monday, PC Jeweller on Saturday allocated shares worth about Rs 91 crore to ten Anchor Investors as part of the IPO.
Anchor investors are generally institutional investors getting a preferential treatment by way of getting shares allocated a day in advance of the IPO.
Under the Anchor Investors portion of the public issue, "PC Jeweller has finalised allocation of 6,716,250 equity shares to investors at Rs 135 a piece, the upper end of the price band for the IPO, aggregating to Rs 90.67 crore," the company said in a statement.
They included global giants like DVI Fund Mauritius Ltd, Stichting Pensioenfonds ABP, Mirae Asset Global lnvestment, Goldman Sachs and HSBC.
Besides, domestic entities like Reliance Capital, Birla Sunlife Trustee and Tata AIA Life Insurance figured among the 10 Anchor Investors for PC Jeweller IPO.
PC Jeweller will hit the capital market on December 10 with initial public offer (IPO) to raise up to Rs 609 crore for funding its expansion plans.
The company has fixed the price band of IPO, comprising of over 4.51 crore equity shares, at Rs 125-135 per share having a face value of Rs 10 each. The public issue will close on December 12.
Out of the total Anchor Investors portion shares, DB International (Asia) and Reliance Capital were allocated 22.06 percent each, while DVI Fund Mauritius got 10.75 percent, Stichting Pensioenfonds ABP (9.84 percent) and Mirae Asset Global Investment (7.72 percent), the company said.
Other investors like Goldman Sachs lndia Fund, HSBC Tax Saver Equity Fund, Birla Sunlife, Tata AIA Life Insurance were allocated 5.51 percent each, it added.
The IPO would constitute 25.2 percent of the post-issue paid-up equity share capital of the company.
The company is offering a discount of Rs 5 to retail individuals.
The shares are proposed to be listed on the National Stock Exchange (NSE) and the BSE. SBI Capital Markets and Kotak Mahindra are the book running lead managers to the IPO.
In September last year, PC Jeweller had filed the draft document with market regulator SEBI for its IPO to raise funds for expansion and working capital requirement.
At present, the company has 30 showrooms across the country and it has plans to open 20 new retail showrooms by utilising funds raised through IPO.
The Delhi-based jeweller had posted a turnover of about Rs 3,000 crore in 2011-12 fiscal.