News Business PC Jewellers Rs 600 crore IPO opens on Monday

PC Jewellers Rs 600 crore IPO opens on Monday

Mumbai, Dec 10: After months of lull in the IPO activity, two public offers - by telecom tower company Bharti Infratel and PC Jeweller - will hit the capital market this week to raise over

pc jewellers rs 600 crore ipo opens on monday pc jewellers rs 600 crore ipo opens on monday
Mumbai, Dec 10: After months of lull in the IPO activity, two public offers - by telecom tower company Bharti Infratel and PC Jeweller - will hit the capital market this week to raise over Rs. 5,000 crore.



PC Jeweller Ltd would launch its IPO on December 10 to raise Rs. 609 crore. Delhi-based PC Jeweller's IPO comprises over 4.51 crore equity shares and the public issue would open on December 10 and close on December 12. It has fixed the price band of Rs. 125-135 per share.

Bharti Infratel, the tower arm of the country's leading telecom service provider Bharti Airtel, is planning to hit the market on December 11 with an Initial Public Offer to raise around Rs. 4,500 crore.

Market experts believe the revival of the primary market is a positive sign, reflecting improvement in investor sentiment. In case bigger issues are successful, it would further enhance the sentiment, they said.

"Primary market activities depend on secondary market, and it's a great time to launch an IPO as the market is very good," Wellindia Executive Director Hemant Mamtani said.

"These three issues are by well-known firms and I expect that their IPOs would be fully subscribed," he added.

The IPO of rating agency Care Ratings has already hit the market to garner Rs. 540 crore. The bidding began for this public issue last week. The proceeds from the IPO would be used to fund expansion and working capital requirements.

So far in 2012, as many as six companies -- MCX, National Buildings Construction Corp (NBCC), Tribhovandas Bhimji Zaveri, Speciality Restaurants, VKS Projects and MT Educare -- have come out with their IPO.

However, two firms -- Samvardhana Motherson Finance and Plastene India had to withdraw their public issues.

Bharti Infratel IPO comprises 18.89 crore equity shares and the four-day issue would close on December 14. It has fixed a price band of Rs. 210-240 per share.

If Bharti Infratel's IPO turns out to be successful, it would be one of the biggest public issues after the state-run Coal India that had raised Rs. 15,475 crore in October 2010.

CARE IPO consists of 71.99 lakh equity shares and subscription for this issue would close on December 11. The shares are being offered in the IPO in a price band of Rs. 700-750 apiece.

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