OPAL LUXURY TIME TO SELL SHARES AT 130-135 RUPEES EACH IN IPO

     (The following and attached press release from Opal Luxury Time Products 
Ltd. was received by e-mail. The sender verified the statement.)   
* Opal Luxury Time Products Ltd IPO Opens On 25th March 2013,
* Price Band Has Been Fixed At, Rs. 130 To Rs. 135. 
MUMBAI, 21st MARCH 2013: Opal Luxury Time Products Limited, a Pune-based
premium home products manufacturing and marketing company, proposes to
enter the capital markets with a public issue of Rs 1300 lacs through a
book building process .Of which Equity Shares of Rs. 10 each aggregating to
Rs 65 lacs will be reserved for subscription by Market Maker to the Issue.
The Price Band has been fixed at, Rs. 130 to Rs. 135 per Equity Share of
Rs. 10 each. CRISIL Ltd has assigned “CRISIL SME Fundamental Grade 4”
indicating ‘*superior fundamentals*’ to this proposed issue. Equity Shares
allotted pursuant to this issue are proposed to be listed on ‘EMERGE’, the
SME platform of NSE. IDBI Capital Market Services Limited is the sole Book
Running Lead Manager for the Issue and Karvy Computershare Pvt Ltd is the
Registrar to the Issue. 
The Net Proceeds of the Issue are proposed to be utilised by the Company
for investments in moulds, tools and equipment, and indigenisation of the
designs for expansion of the existing manufacturing facility at Roorkee
(Uttarakhand). Further, a part of the Net Proceeds is also proposed to be
used for enhancement of the Company’s brand through advertising and other
brand building activities. Company intends to deploy Rs. 1,029.95 lacs for
indigenisation of the designs and overall expansion of the existing
facility over  FY 2014 and FY 2015. Currently, the Company manufactures as
well as outsources its clock components, while the final assembly is
completed at the manufacturing facility at Roorkee. 
In order to strengthen its brand, the Company intends to enhance awareness
of its brand through advertising and various other promotional activities,
organising contests for its users/dealers and event sponsorships. The
Company proposes to utilise Rs. 390.50 lacs from the Net Proceeds towards
enhancement of Company’s brand through advertising and other brand-building
activities. 
Currently, the Company designs and manufactures wall and table clocks and
market them under two brands: its flagship premium brand ‘Opal’ and budget
brand ‘Caliber’. It primarily operates in the market of premium clocks,
with in-house expertise in designing complemented by quartz technology. The
facility for manufacturing of clocks is based at Roorkee, Uttarakhand where
all manufacturing and other peripheral activities are carried out. Its
brand ‘Opal’ has a wide presence with the products marketed by a network of
9 distributors, 242 dealers and 91 organised retailers which includes
popular brands such as Shoppers Stop, Home Town, etc. It has also ventured
into online sales by way of popular online shopping portals and currently
have tie ups with 10 online portals and also has its own shopping portal at
*www.opalclocks.com*. It has recently started exporting to the United
States. 
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Disclaimer: "The Company is proposing, subject to market conditions and
other considerations, a public issue of its equity shares and has filed a
Red Herring Prospectus with the Registrar of Companies. The Red Herring
Prospectus is available on the website of NSE at www.nse.com and the
website of the Book Running Lead Manager at www <http://www.afsl/>.
idbicapital.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" of the Red Herring Prospectus. The equity
shares of the Company have not been and will not be registered under the
U.S. Securities Act of 1933, as amended ("U.S. Securities Act") or any
state securities laws in the United States, and may not be offered or sold
within the United States or to, or for the account or benefit of, "U.S.
persons" (as defined in Regulation S of the U. S. Securities Act), except
pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the U.S. Securities Act and applicable state
securities laws in the United States.* 
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