Wednesday, December 26, 2012

PC Jeweller IPO

PC Jeweller, a Delhi based manufacturer, retailer and wholesaler of Jewellery, has come out with an IPO to sell 451.33 lakh shares of which 447.75 lakh shares will be offered to public. The company has two jewellery manufacturing facilities in Uttarakhand that cater to the domestic market and two facilities at Noida for the export market. It also exports gold and diamond jewellery on a wholesale basis to distributors in Dubai, Hong Kong and Singapore. The IPO would constitute 25.2 per cent of the post-issue paid-up equity share capital of the company.

The IPO shall open on 10 December, 2012 and shall close on 12 December, 2012. The company has fixed the price band of the issue at Rs 125-135 per share. The company is offering a discount of Rs 5 to retail individuals.

The company intends to utilize the proceeds of the IPO to finance establishment of new showrooms and for general corporate purposes.

The company had posted a turnover of about Rs 3,000 crore in 2011-12 fiscal.

The IPO will be listed on BSE and NSE. SBI Capital Markets Limited and Kotak Mahindra Capital Company Ltd are the lead managers and Karvy Computershare Pvt Ltd is the registrar of the IPO.

Recommendation:

CARE and CRISIL has assigned grade 3 to the IPO indicating average fundamentals. Investors with high risk appetite could invest in this IPO for listing gains.

Subscription:

PC Jeweller has got 6.85 times subscribed at the close of the IPO.

At the close of the IPO,
QII segment got subscribed by 7.33 times
NII segment got subscribed by 18.12 times
Retail segment got subscribed by 1.68 times
Employees segment got subscribed by 0.96 times

Allotment:

PC Jeweller has set the IPO price at Rs 135 per share, which means retail investors have got it for Rs 130 per share. Click here to check PC Jeweller IPO Allotment Status!

Listing:

PC Jeweller got listed on 27 December, 2012. The stock opened at Rs 137 which was also the intra-day low, touched an intra-day high of Rs 154.7 before closing the day at Rs 149.2 per share, 15% premium over its issue price of Rs 130 for retail investors.


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