Indian jewellery retailer Tribhovandas Bhimji Zaveri is all set to enter the capital markets on April 24, 2012, with an initial public offering of 16,666,667 equity shares of face value of Rs 10 each (the “Issue”) for cash at a price band fixed between Rs 120 and 126 per equity share (equity shares). The Issue will constitute 25 percent of the post-Issue paid-up capital of the company. The minimum bid lot is 45 equity shares and in multiples of 45 equity shares therein. The Issue will close on April 26, 2012.
The public offering is being made through the 100 percent book building process wherein not more than 50 percent of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers (QIBs). The company may allocate up to 30 percent of the QIB portion to anchor investors on a discretionary basis out of which one-third shall be reserved for domestic mutual funds. Five percent of the QIB Portion (excluding the anchor investor portion) shall be available for allocation on a proportionate basis to mutual funds only, and the remainder of the QIB portion shall be available for allocation on a proportionate basis to all QIB bidders, including mutual funds, subject to valid bids being received at or above the issue price.
Further, not less than 15 percent of the public offering shall be available for allocation on a proportionate basis to non-institutional bidders and not less than 35 percent of the issue shall be available for allocation on a proportionate basis to retail individual bidders, subject to valid bids being received at or above the issue price.
