Page Industries files draft red herring with SEBI

New Delhi, Jan 2 (UNI) Page Industries Ltd, exclusive licensee of innerware maker Jockey International Inc (US) for India, Sri Lanka, Nepal, Bangladesh and Maldives, has filed Draft Red Herring Prospectus with Securities&Exchange Board of India (SEBI) to enter the capital market with its initial public offering of equity shares.

The company proposes to issue about 28 lakh equity shares of Rs 10 each for cash at a premium to be decided through a 100 per cent book building process.

The total offer constitutes 25.14 per cent of the post issue fully diluted paid up share capital of the company.

Of these, about 14 lakh equity shares would constitute fresh issue of equity shares and the balance 14 equity shares are on offer for sale by the promoters.

Page Industries proposes to reserve 15,000 equity shares for allotment to eligible employees of the company. The balance being the net offer to public.

Out of this net offer, up to 50 per cent will be allocated to qualified institutional bidders, of which up to five per cent will be allotted to mutual funds only. Further, 15 per cent is to be allocated to non-institutional investors and up to 35 per cent will be allocated to retail individual investors.

The company has appointed IL&FS Investsmart Ltd as the sole book-running lead manager to the issue.

Page Industries Limited commenced operations in the year 1995 in Bangalore with the manufacturing, distribution and marketing of Jockey products.

UNI