The IPO shall open on 24 April, 2012 and shall close on 26 April, 2012. The company has fixed the price band of the IPO at Rs 120-126 per share.
The company plans to utilize the proceeds of the IPO to open an additional 44 showrooms (26 large format high street showrooms and 18 small format high street showrooms) by the end of fiscal 2014 with an outlay of Rs 18.17 crore and will use the rest for meetings its working capital requirement.
Equity shares are proposed to be listed on the BSE and the National Stock Exchange.
The book running lead managers to the issue are IDFC Capital Limited and Avendus Capital Private Limited. Karvy Computershare Private Limited is the registrar to the issue.
Recommendation:CRISIL has assigned grade 3 to the IPO, which indicates average fundamentals. We would advice only investors with high risk appetite to invest in this issue.
Subscription:Tribhovandas Bhimji Zaveri IPO finally managed to get fully subscribed at 1.15 times on the last day of the IPO after just managing a dismal 20% subscription only a day before.
At the close of the IPO,
QII segment got subscribed 1.29 times
NII segment got subscribed 1.91 times
Retail segment got subscribed 0.68 times