Issue comprises of 45,133,500 Equity Shares; Price Band fixed between Rs 125 and Rs 135 per share.
PC Jeweller Limited ('PCJ' or 'THE COMPANY' or the 'SSUER') is proposing an Initial Public Offer (‘IPO’) comprising of 45,133,500 equity shares of face value of ` 10 each (THE ISSUE). The Issue will open on December 10, 2012 (Issue Opening Date). The Price Band has been fixed between Rs 125 and Rs135 per share.
The issue which opens for subscription on Monday, December 10, 2012, will close on Wednesday, December 12, 2012 for all bidders. The issue comprises of a Net Issue of 44,775,000 Equity Shares (THE 'NET ISSUE') by the company and a reservation of 358,500 Equity Shares for subscription by the eligible employees (THE 'EMPLOYEE RESERVATION PORTION'). The Issue shall constitute 25.20 per cent of the Post Issue Paid-Up Equity Share Capital and the Net Issue shall constitute 25.00 per cent of the Post Issue Paid-Up Equity Capital of the company.
The company, in consultation with the Book Running Lead Managers and co-Book running Lead manager, has fixed the Price Band between Rs125 and Rs135 per Equity Share for the IPO. The minimum bid lot has been fixed at 90 Equity Shares and in multiples of 90 Equity Shares thereafter. Discount of Rs 5 to the Issue Price is being offered to Retail Individual bidders (the 'Retail Discount') and Eligible Employees bidding in the Employee Reservation portion (the 'Employee Discount').
The Issue has been graded by Credit Analysis and Research Limited as “CARE IPO Grade 3”, indicating average fundamentals and by CRISIL Limited as 'CRISIL IPO Grade 3' indicating average fundamentals. The IPO grade is assigned on a five-point scale from one to five, with IPO grade 5/5 indicating strong fundamentals and IPO grade 1/5 indicating poor fundamentals.
50 per cent of the Net Issue will be allocated on a proportionate basis to Qualified Institutional Buyers ('QIBs') (the 'QIB Portion'). The Company may allocate up to 30 per cent of the QIB Portion to Anchor Investors, on a discretionary basis (the 'Anchor Investor Portion'), out of which at least one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Issue Price. The Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Issue Opening Date.
Further, five per cent of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only. The remainder shall be available for allocation on a proportionate basis to QIBs, including Mutual Funds, subject to valid Bids being received from them at or above the Issue Price.
Further, not less than 15 per cent of the Net Issue will be available for allocation on a proportionate basis to Non Institutional Bidders and not less than 35 per cent of the Net Issue will be available for allocation to Retail Individual Bidders in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, subject to valid Bids being received from them at or above the Issue Price. All Investors other than Anchor Investors may participate in this Issue through the ASBA process by providing the details of the relevant ASBA Accounts. Anchor Investors, however, are not permitted to participate in the Issue through ASBA Process.
The Book Running Lead Managers ('BRLMs') to the Issue are SBI Capital Markets Limited and Kotak Mahindra Capital Company Limited. The Co-Book Running Lead Manager ('Co-BRLM') to the Issue is IDBI Capital Market Services Limited.
The Equity Shares offered through the Issue are proposed to be listed on the National Stock Exchange of India Limited and the BSE Limited. BSE Limited is the Designated Stock Exchange for the Issue.