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By
Reuters
Published
Mar 17, 2010
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Shree Ganesh Jewellery to raise 3.28 billion rupees via IPO

By
Reuters
Published
Mar 17, 2010

Jewellery House Ltd plans to raise 3.28 billion rupees from its initial public offering of 14.26 million shares.


Photo: www.shreeganeshjewellers.com

The price band for the IPO has been set at 260-270 rupees.

The issue opens March 19 and closes on March 23, the company said.

The firm plans to raise funds to expand operations and diversify into newer products and geographies, it had said in a statement earlier.

Middle East, Singapore and Hong Kong are the major export markets for the firm, in which Credit Suisse holds a 10.99 percent stake.

Axis Bank Limited, ICICI Securities Ltd and Avendus Capital Pvt Ltd are the book-running lead managers for the IPO.

(Reporting by Nandita Bose; Editing by Prem Udayabhanu)

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