(The following and attached press release from Tara Jewels Ltd. was
received by e-mail. The sender verified the statement.)
*Tara Jewels Ltd. -Initial Public Offer*
* opens on November 21st 2012*
*Price Band fixed at Rs. 225 to Rs. 230 per Equity Share*
- Promoter of the Company : MR. RAJEEV SHETH
- Issue Opens on# : Wednesday, November 21st, 2012
- Issue Closes on : Friday, November 23rd, 2012
- Price Band : Rs. 225 to Rs. 230 per Equity Share
- IPO Grading : CARE IPO Grade 3
* Anchor Investor Bidding Date shall be on November 20, 2012*
Mumbai, November 19th, 2012: Tara Jewels Ltd. (the “Company”), is
proposing a public issue of up to [●] equity shares of face value of Rs. 10
each (“Equity Shares”) for cash at a price of Rs. [●] per Equity Share
including a share premium of Rs. [●] per Equity Share, aggregating up to
Rs. 1,795 million (the “Issue”) comprising of a fresh issue of up to [●]
Equity Shares by the Company aggregating up to Rs. 1,095 million (“Fresh
Issue”) and an offer for sale of up to [●] equity shares by Fabrikant H.K.
Trading Limited (“Selling Shareholder”) aggregating up to Rs. 700 million
(“Offer For Sale”).
The Issue includes a reservation of up to 1% of the Issue size constituting
[●] Equity Shares for the eligible employees (the “Employee Reservation
Portion”). The Issue less the Employee Reservation Portion is referred to
as the “Net Issue”. The Issue and the Net Issue shall constitute [●] % and
[●] % of the fully diluted post-Issue paid up capital of the Company,
Tara Jewels is an integrated player in the jewellery industry with
experience ranging from designing to retailing. The Company’s business can
be divided into three operations namely, manufacturing, exporting and
retailing with the portfolio of products includes gold, platinum,
honeydium, pristinium and silver jewellery with or without studded precious
and semi-precious stones. Tara Jewels conducts jewellery retail operations
under the brand “Tara Jewellers”. The company entered jewellery retailing
in India in October 2008 with the launch of their Existing Store at
Andheri, Mumbai and currently it operate 30 Stores.
The company primarily export to Australia, China, Canada, European Union,
South Africa, UAE, UK and USA and 12 countries in European Union including
Austria, Germany and Switzerland. The company has four manufacturing units,
of which one is located in Panyu, China. The other three units are located
in Mumbai, India out of which two units are situated in SEEPZ and one in MIDC.
The Equity Shares are proposed to be listed on the BSE Limited and National
Stock Exchange of India Limited. Enam Securities Private Limited, ICICI
Securities Limited are the Book Running Lead Managers to the Issue while
Link Intime India Private Limited is the Registrar to the Issue.
Tara Jewels Limited is proposing, subject to market conditions and other
considerations, a public issue of securities and has filed the Red Herring
Prospectus with the Registrar of Companies, Maharashtra at Mumbai. The Red
Herring Prospectus is available on the website of the Securities and
Exchange Board of India at www.sebi.gov.in as well as on the websites of
the book running lead managers at www.enam.com and www.icicisecurities.com.
Investors should note that investment in equity shares involves a high
degree of risk and for details relating to the same, see the section titled
“Risk Factors” on page xi of the Red Herring Prospectus.
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