V-Mart Retail raises Rs 26.25 cr via pre-IPO placement

V-Mart Retail raises Rs 26.25 cr via pre-IPO placement Mumbai: Delhi-based departmental store V-Mart Retail on Monday raised Rs 26.25 crore through pre-IPO placement of 12.5 lakh shares at a price of Rs 210 per share.
V-Mart Retail raises Rs 26.25 cr via pre-IPO placement

Mumbai: Delhi-based departmental store V-Mart Retail on Monday raised Rs 26.25 crore through pre-IPO placement of 12.5 lakh shares at a price of Rs 210 per share.

"The company has made a pre-IPO placement of 1,250,000 equity shares of the face value of Rs 10 each at a price of Rs 210 per equity share to pre-IPO investors, namely Antique Finsec, Antique Stock Broking, Four Dimensions Securities (India), Lata Manek Bhanshali, Merit Credit Corporation and Tejal Rohit Kothari, aggregating to Rs 26.25 crore," V-Mart Retail said in a statement.

V-Mart Retail had filed a Draft Red Herring Prospectus (DRHP), or initial papers, for its proposed IPO of 44.96 lakh equity shares with market regulator SEBI.

The IPO comprises a fresh issue of 27.61 lakh equity shares and an offer for sale of 17.35 lakh equity shares by Naman Finance and Investment Private.

The issue will constitute 25.04 percent of the post issue paid-up capital of our company.

The funds raised through the IPO will be utilised to finance V-Mart's plans to open 60 new stores, for the expansion of distribution centres, for working capital requirements, for general corporate purposes and to meet the issue expenses.

Anand Rathi Advisor is the sole Book Running Lead Manager to the issue and Karvy Computer Shares is the Registrar to the issue.

PTI

"The company has made a pre-IPO placement of 1,250,000 equity shares of the face value of Rs 10 each at a price of Rs 210 per equity share to pre-IPO investors, namely Antique Finsec, Antique Stock Broking, Four Dimensions Securities (India), Lata Manek Bhanshali, Merit Credit Corporation and Tejal Rohit Kothari, aggregating to Rs 26.25 crore," V-Mart Retail said in a statement.

V-Mart Retail had filed a Draft Red Herring Prospectus (DRHP), or initial papers, for its proposed IPO of 44.96 lakh equity shares with market regulator SEBI.

The IPO comprises a fresh issue of 27.61 lakh equity shares and an offer for sale of 17.35 lakh equity shares by Naman Finance and Investment Private.

The issue will constitute 25.04 percent of the post issue paid-up capital of our company.

The funds raised through the IPO will be utilised to finance V-Mart's plans to open 60 new stores, for the expansion of distribution centres, for working capital requirements, for general corporate purposes and to meet the issue expenses.

Anand Rathi Advisor is the sole Book Running Lead Manager to the issue and Karvy Computer Shares is the Registrar to the issue.

PTI