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PC Jeweller IPO subscribed 38 pc on Day 2

Dec 11 2012, 21:43 IST
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PC Jeweller IPO subscribed 38 pc on Day 2 PC Jeweller IPO subscribed 38 pc on Day 2
SummaryThe IPO attracted bids for 1.7 crore shares against 4.51 crore shares on offer, data available with the stock exchanges showed till 1700 hrs.

The Rs 609-crore initial public offer (IPO) of PC Jeweller got subscribed 38 per cent on the second day of the issue today.

The IPO attracted bids for 1.7 crore shares against 4.51 crore shares on offer, data available with the stock exchanges showed till 1700 hrs.

The Qualified Institutional Buyers (QIBs) portion was subscribed 9 per cent, while retail investor category got subscribed 15 per cent.

Shares in the institutional slot had not attracted any interest so far, the data showed.

While 1.56 crore shares each are reserved for QIBs and retail, around 67.16 lakh shares are reserved for non-institutional investors.

The company has fixed the price band of IPO at Rs 125-135 per share, having a face value of Rs 10 each. The public issue will close tomorrow.

At the upper band, PC Jeweller would raise a little over Rs 609 crore through IPO, while at lower band, the company would mop up Rs 564 crore.

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.

The shares are proposed to be listed on the National Stock Exchange (NSE) and the BSE.

The book running lead managers to the IPO are SBI Capital Markets and Kotak Mahindra Capital Company and the co-book running lead manager is IDBI Capital Market Services.

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