India's PC Jeweller to raise up to $111 mln from IPO

Last Updated: Tue, Dec 04, 2012 12:10 hrs

Dec 4 (Reuters) - Indian jewellery retailer PC Jeweller Ltd plans to raise up to $111 million through an initial public offering opening (IPO) on Dec. 10.

PC Jeweller said it would offer 45.1 million shares, or about a quarter of its equity capital, in the IPO. It set a price band of between 125 rupees and 135 rupees a share.

At the upper end of the price band, the issue will raise 6.09 billion rupees ($111 million), and 5.64 billion rupees at the lower end.

The company has reserved 358,500 shares for its employees, and will give a discount of 5 rupees a share to employees and retail investors, it said in a statement.

SBI Capital Markets Ltd and Kotak Mahindra Capital Co Ltd are the lead advisers for the share sale, which closes on Dec. 12. ($1 = 54.6750 Indian rupees) (Reporting by Devidutta Tripathy; Editing by Anand Basu)

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