Monte Carlo IPO opens at Rs 630-645 per share
03/12/2014 17:54
Ludhiana-based woollen and cotton apparel manufacturer Monte Carlo Fashions (MCFL) has opened its public issue of 54.33 lakh equity shares for subscription today, reported media. The company has fixed price band of Rs 630-645 per share or the issue, which will close on December 5, 2014. Bids can be made for minimum 23 equity shares and in multiple of 23 shares thereafter, as per the media reports. Monte Carlo, the apparel retail chain, aims to garner Rs 342-350 crore through the issue by diluting 25 percent shareholding. There is no fresh issue of shares. Promoters (including Oswal family & members and other companies) will reduce their stake from 81.06 percent to 63.63 percent and Smara Capital, a Mauritius-based PE firm (through its affilliate, KIL had acquired stake in Monte Carlo in June 2012) will cut its shareholding from 18.51 percent to 10.94 percent through this issue. The objects of the offer are to achieve the benefits of listing the equity shares on the stock exchanges and the sale of 54.33 lakh equity shares by the selling shareholders. Monte Carlo allotted 16.29 lakh equity shares at Rs 645 a piece amounting to Rs 105.12 crore to anchor investors namely DB International (Asia), Aditya Birla Private Equity Trust, Tata Mutual Fund and Birla Sun Life.
03/12/2014 17:54
Ludhiana-based woollen and cotton apparel manufacturer Monte Carlo Fashions (MCFL) has opened its public issue of 54.33 lakh equity shares for subscription today, reported media. The company has fixed price band of Rs 630-645 per share or the issue, which will close on December 5, 2014. Bids can be made for minimum 23 equity shares and in multiple of 23 shares thereafter, as per the media reports. Monte Carlo, the apparel retail chain, aims to garner Rs 342-350 crore through the issue by diluting 25 percent shareholding. There is no fresh issue of shares. Promoters (including Oswal family & members and other companies) will reduce their stake from 81.06 percent to 63.63 percent and Smara Capital, a Mauritius-based PE firm (through its affilliate, KIL had acquired stake in Monte Carlo in June 2012) will cut its shareholding from 18.51 percent to 10.94 percent through this issue. The objects of the offer are to achieve the benefits of listing the equity shares on the stock exchanges and the sale of 54.33 lakh equity shares by the selling shareholders. Monte Carlo allotted 16.29 lakh equity shares at Rs 645 a piece amounting to Rs 105.12 crore to anchor investors namely DB International (Asia), Aditya Birla Private Equity Trust, Tata Mutual Fund and Birla Sun Life.
