Jewellery retailer PC Jeweller Ltd plans to raise up to $111 million through an initial public offering opening (IPO) on December 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, 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 December 12.
(Reporting by Devidutta Tripathy; Editing by Anand Basu)
Tata Motors aims to turn around domestic business by 2019
NEW DELHI Tata Motors is overhauling its domestic supply chain, product portfolio and organisational structure as part of a three-year turnaround strategy, the company's chief executive said on Tuesday.
More than a million Indian workers to go on strike on Friday
NEW DELHI More than a million Indian workers in banking, telecoms and other sectors will go on strike on Friday, seeking higher wages and to protest against Prime Minister Narendra Modi's labour reforms and a plan to close some loss-making firms.
EU hits Apple with 13 billion euro Irish tax demand
BRUSSELS/DUBLIN The European Commission ordered Apple Inc to pay Ireland unpaid taxes of up to 13 billion euros ($14.5 billion) on Tuesday as it ruled the firm had received illegal state aid.