The IPO of ’Tara Jewels Limited’, has been subscribed 1.98 times with applications for 13,500,300 equity shares of face value of Rs. 10 each (“Equity Shares”).
The QIB portion was subscribed 1.49 times with applications for 4,146,750 Equity Shares, HNI segment 3.10 times with applications for 3,668,950 Equity Shares, retail portion 2.05 times with applications for 5,673,600 Equity Shares and the employee reservation portion 0.14 times with applications for 79,777 Equity Shares.
The price band was fixed at Rs 225-230 a share.
The issue will close on November 23, which consists of a fresh issue of equity shares worth Rs 1.09bn and an offer for sale of Rs 7bn worth of shares by Fabrikant H K Trading Limited.
Tara Jewels is an integrated player in the jewellery industry with experience ranging from designing to retailing. The Company’s business can be divided into three operations namely, manufacturing, exporting and retailing with the portfolio of products includes gold, platinum, honeydium, pristinium and silver jewellery with or without studded precious and semi-precious stones. Tara Jewels conducts jewellery retail operations under the brand “Tara Jewellers”. The company entered jewellery retailing in India in October 2008 with the launch of their Existing Store at Andheri, Mumbai and currently it operate 30 Stores.
India Infoline News Service / 09:04, Jan 22, 2015
The outlook is a flat start. The market will look to scale to new peaks though not much effort is needed for the same. HUL saw a rally and short-covering may have pulled it up further. Speculation is on that its parent will raise stake through an open offer. After the cooling in oil prices, Cairn results will be in focus.