Renaissance Jewellery IPO opens on November 19, 2007

The Initial Public Offering (IPO) of Renaissance Jewellery Ltd opens for subscription on November 19, 2007 and closes for subscription on November 21, 2007. The company is coming out with an IPO of 5324240 Equity Shares of Rs 10 each for cash at a price band of Rs 125 to Rs 150 through 100% Book Building process.

The company is issuing one detachable warrant for every 2 equity shares allotted. The issue will constitute 29% of the fully diluted post issue paid-up capital of the company prior to exercise of detachable warrants and the issue shall constitute 37.99% of the paid up equity share capital of the company assuming full exercise of detachable warrants.

The Equity Shares and Warrants offered through this public issue are proposed to be listed on the Bombay Stock Exchange Limited ("BSE") and the National Stock Exchange of India Limited ("NSE").

Intime Spectrum Registry Limited is the registrar to the issue.

Edelweiss Capital Limited is the Book Running Lead Manager to the issue.

This Issue has been graded by ICRA Limited and has been assigned the "ICRA IPO Grade 2" indicating below average fundamentals, through its letter dated October 24, 2007 which is valid for a period of two months.

Click Here to view Renaissance Jewellery Ltd Website.

Click Here to view Renaissance Jewellery Ltd IPO Prospectus.

Source : Equity Bulls

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