House of Pearl Fashions IPO Price fixed at Rs. 550 per share, Issue over subscribed 3.91 times

New Delhi, January 30, 2007: House Of Pearl Fashions Ltd., a multinational, ready-to-wear apparel company operating in three distinct business streams: manufacturing, marketing & distribution and sourcing of garments, entered the capital market with an ‘IPO’ of equity shares and has fixed its issue price at Rs 550 per share.

House of Pearl Fashions Ltd had offered 5,984,994 equity shares of Rs 10 each through the book building route, which comprised of fresh issue of 4,759,794 equity shares by the company and an offer for sale of 1,225,200 equity shares by the promoters. There was a reservation of 122,600 equity shares for employees. There will also be a green shoe option of 612,060 equity shares of Rs 10 each. The issue will constitute 33.52% of the fully diluted post-issue equity share capital of the company assuming that the green shoe option is exercised in full.

The issue which opened for subscription on January 16, 2007 and closed on January 23, 2007, received an overwhelming response.

The equity shares are proposed to be listed on the BSE and NSE.

JM Morgan Stanley Private Limited is the sole Book Running Lead Manager for the IPO.

Source : Equity Bulls

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