The price band for the upcoming IPO of Thangamayil Jewellery Ltd. is fixed at Rs.70/- to Rs.75/- per equity share, each having a Face Value of Rs.10/- each. The IPO opens for subscription from Wednesday, January 27, 2010 and would remain open till Friday, January 29, 2010. The Issue Size of the IPO is Rs. 28.75 Crores.
Thangamayil Jewellery Ltd. (TJL) is one of the leading jewellery retailers in Madurai and trades in Gold Jewellery, Diamond and Platinum jewels. The Bid Lot of the IPO would be 80 Equity Shares and in multiples thereof
The company intends to use issue proceeds for expansion of existing business by establishing retail outlets at Tuticorin, Dindigul, Theni, Nagercoil, Tirunelveli, Kovilpatti and Sivakasi, and for renovation of the existing outlet at Madurai; working capital requirement and issue expenses
