Monte Carlo shares dip 9.3% on debut 19/12/2014

Monte Carlo shares dip 9.3% on debut
19/12/2014 17:28
The shares of Monte Carlo Fashions Ltd were listed on BSE today and opened at a price of Rs 585 apiece, down 9.3 per cent from its initial public offer (IPO) price of Rs 645 per share. Apparel products manufacturer said its equity shares are listed on the exchange and admitted to dealings on BSE in the list of 'B' group securities, the company said in a statement. “Effective from December 19, 2014, the equity shares of Monte Carlo Fashions Ltd are listed and admitted to dealings on the exchange in the list of 'B' Group Securities,” the company said in a filing to the Bombay Stock Exchange on December 19, 2014. The company issued 54.3 million equity shares and had raised around Rs 350 crore from them. At intra day trading the stocks of the company touched a high of Rs 632.45 apiece on BSE. Meanwhile, shares of the company ended the day at Rs 566.40 apiece, down 3.3 per cent, from its opening price on BSE.

Sebi approves Monte Carlo Fashions’ Rs 500 cr IPO 16/09/2014

Sebi approves Monte Carlo Fashions’ Rs 500 cr IPO
16/09/2014 16:26
Monte Carlo Fashions Ltd (MCFL) has received a green light from the Securities and Exchange Board of India (Sebi) for an estimated Rs. 500-crore initial public offering (IPO), wherein 54.33 lakh equity shares would be sold by shareholders including promoters and private equity firm Samara Capital, reported PTI.
Paving the way for IPO, Sebi issued its observations on September 12 for the public offer, which would be an offer for sale (OFS) by selling shareholders. The lead merchant banker for the public offer is SBI Capital Markets.
The OFS is expected to hit the market later this month and will constitute 25 per cent of the post paid-up equity share capital of the company.
The company has said that its PE investor Samara Capital has decided to divest a 9.5 per cent stake and promoters will dilute 15 per cent through offer for sale.
The company expects the listing of equity shares will enhance visibility and brand image among existing and potential customers and provide liquidity to the existing shareholders, Monte Carlo executive director Sandeep Jain said.