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Monte Carlo Fashions IPO to open on December 3

The company has fixed the price band at Rs630 to Rs645 per equity share.

November 26, 2014 2:22 IST | India Infoline News Service
Branded apparel maker Monte Carlo Fashions is planning to raise about Rs400 crore from IPO. The initial public offering (IPO) issue will open on December 3 and will close on December 5, 2014. The company has fixed the price band at Rs630 to Rs645 per equity share. SBI Capital Markets, Axis Capital, Edelweiss Financial Services and Religare Capital Markets are managing the issue.

The Offer is being made through the Book Building Process, in compliance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended ("SEBI ICDR Regulations") where 50% of the Offer will be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Category"), provided that the Company may allocate up to 60% of the QIB Category to Anchor Investors, on a discretionary basis (the "Anchor Investor Portion"), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Offer Price. Further, 5% of the QIB Category (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only. The remainder shall be available for allocation on a proportionate basis to QIBs and Mutual Funds, subject to valid Bids being received from them at or above the Offer Price.

Further, not less than 15% of the Offer will be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Offer will be available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Retail Individual Investors may participate in this Offer through the ASBA process by providing the details of the ASBA Accounts in which the corresponding Bid Amounts will be blocked by the SCSBs. QIBs (excluding Anchor Investors) and Non-Institutional Investors can participate in the Offer only through the ASBA process. Anchor Investors are not permitted to participate in this Offer through the ASBA process.

The Equity Shares issued though the Red Herring Prospectus are proposed to be listed on the Stock Exchanges - BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE").

Further, not less than 15% of the Offer will be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Offer will be available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Retail Individual Investors may participate in this Offer through the ASBA process by providing the details of the ASBA Accounts in which the corresponding Bid Amounts will be blocked by the SCSBs. QIBs (excluding Anchor Investors) and Non-Institutional Investors can participate in the Offer only through the ASBA process. Anchor Investors are not permitted to participate in this Offer through the ASBA process.

The Equity Shares issued though the Red Herring Prospectus are proposed to be listed on the Stock Exchanges - BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE").

The Book Running Lead Managers ("BRLMs") to the Offer are SBI Capital Markets Limited, Axis Capital Limited, Edelweiss Financial Services Limited and Religare Capital Markets Limited.

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