Birla Pacific & Rushil Decor comes with IPO, Fixes price band

June 17, 2011   ·   0 Comments

Yash Birla group company Birla Pacific Medspa has fixed price band of Rs 10-11 a share for its initial public offering of Rs 65.175 crore. The issue will be opened for subscription during June 20-23, 2011.

www.stockssavvy.comCompany operates med spa centres under the brand name “EVOLVE”. A med spa or medical spa is a hybrid between a medical clinic and a day spa and operates under the supervision of medical doctor.

Issue proceeds are proposed to be used for the capital expenditure towards establishing 55 outlets of Evolve Medspa across various cities and places, with cost of Rs 49.50 crore; brand promotion with Rs 6 crore; and working capital requirements of Rs 70 lakh for running the above centres. ids can be made for minimum of 500 equity shares and in multiples of 500 shares thereafter.

This issue has been assigned the “IPO Grade 2” indicating below average fundamentals by M/s Brickworks Ratings India Pvt Ltd.. Arihant Capital Markets Ltd is the book running lead manager to the issue.

Decorative laminated sheets manufacturer Rushil Decor has fixed price band at Rs 63-72 for its initial public offering of 56,43,750 equity shares of face value Rs 10 each. The issue will open for subscription during June 20-23, 2011.

www.stockssavvy.comThe issue includes promoter’s contribution of 2,43,750 equity shares and issue to the public of 54 lakh equity shares. Company manufactures decorative laminated sheets with a network of branches, distributors and dealers across India. Company offers comprehensive engineered interior products including decorative laminate sheets and plain particle boards.

Issue proceeds are proposed to be used for setting up of medium density fibre board (MDF) plant at Amble Industrial Area, Chikmagalur, Karnataka; and for working capital requirement. The issue will close on June 23. Corporate Strategic Allianz Limited is the book running lead manager and Indbank Merchant Banking Services Ltd is the co-book running lead manager to the issue.

Rajesh Singla

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