MUMBAI: Inox Leisure Ltd, has fixed the price band at Rs 100 to Rs 120 per share for its initial public offer.
The company is entering the capital market with an offer of 16,500,000 equity shares of Rs 10 each for cash to be decided through the book-build process.
In an official statement, the offer consists of issue of 12,000,000 equity shares, of which 2,00,000 equity shares are reserved for allotment to permanent employees of the company, and an offer for sale of 4,500,000 equity shares of Rs 10 each by Gujarat Fluorochemicals Limited, the promoter of the company.
The net issue to public, exclusive of the reservation of permanent employees, would be 16,300,000 equity shares. This will constitute 27.17 per cent of the fully diluted post issue paid up capital of the company.
Of the net issue to public, 50 per cent has been reserved for allotment to qualified institutional buyers, of which 5 per cent is reserved for allotment to mutual funds; 15 per cent to non-institutional investors and the balance 35 per cent to retail investors on a proportionate basis.