Mumbai-based garments manufacturer and retailer Ashapura Intimates Fashion Ltd. is launching its initial public offering (IPO) with the issue of 52.5 lakh equity shares of Rs.10 each on March 28, 2013.
The price band for the issue is fixed at Rs.40 apiece and the issue will close on April 4.
The company said it plans to utilize Rs.21 crore for setting up 10 exclusive brand outlets (EBOs), branding and marketing set-up, investment in the equity shares of group company, modernization of machineries, working capital requirements and general corporate purposes.
The company posted a net profit of Rs.1.65 crore on total income of Rs.57.47 crore for the six months ended September 2012.
Equity shares are proposed to be listed on Bombay Stock Exchange under SME platform.
KJMC Corporate Advisors (India) Ltd. is a book running lead manager.
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