Saturday, April 24, 2010

Talwalkars IPO - Analysis,Subscription,Allotment,Listing

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Talwalkars Better, one of the largest and oldest fitness chains in India, operates 51 health clubs in 24 cities and serves over 55,000 members. The company plans to raise about Rs 74.42-77.44 crore at the price band of Rs Rs 123-128/share. The issue proceeds will be used for setting up of additional health clubs at cost of Rs 50.22 crore and repayment of unsecured loans worth Rs 20.59 crore. The offer shall constitute 25.09% of the paid-up equity capital of company. Promoters' holding will be reduced to 59.49% post issue.

The book running lead managers to the issue India Infoline and Link Intime India Pvt Ltd is the registrar. The IPO closed on 24th April, 2010.

The IPO has received good response from investors and got around 28 times subscribed at the close of the IPO.

At the end of the IPO,
QII segment got subscribed by 35 times
NII segment got subscribed by 51 times
Retail segment got subscribed by 8 times

Click here to check if you have been alloted Talwarkars shares!

The IPO recieved good response on the listing day as well. Shares of the firm rose as much as 31%, or Rs 168, from its issue price of Rs 128 on debut.

Watch out this blog for all the latest IPOs!
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