Page Industries fixes price band for IPO at Rs 360-395/share

Mumbai, Feb 19 (UNI) Page Industries, the exclusive licensee of Jockey International Inc.(US) for India, Sri Lanka, Nepal, Bangladesh and Maldives, has fixed a price band for its initial public offering (IPO) between Rs 360 and Rs 395 per equity share to be decided through a 100 per cent book-building process.

Announcing this at a press conference, its managing director Sunder Genomal said the IPO proceeds would be deployed for expansion of garment manufacturing capacity in the existing facility at Bangalore besides implementation of new generation ERP software (SAP) and modernisation of production process. It would also be used for brand building and purchasing a corporate head office at Bangalore, said he.

The IPO will open on February 23 and close on February 27. It envisages issue of 28,04,000 equity shares which are to be listed on the Bombay Stock Exchange and the National Stock Exchange (NSE).

The offer shall constitute 25.14 per cent of the post issue paid-up capital of the Company. The Book Running Lead Manager (BRLM) to the issue is IL&FS Investsmart Ltd.

UNI