Cox and Kings to go for IPO, files DRHP with Sebi

Cox and Kings to go for IPO, files DRHP with Sebi
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First Published: Fri, Aug 21 2009. 10 57 PM IST
Updated: Fri, Aug 21 2009. 10 57 PM IST
Mumbai: After an 18-month delay, tour operating firm Cox and Kings (India) Ltd on Friday said it has filed its draft red herring prospectus (DRHP) with markets regulator Securities and Exchange Board of India or Sebi, in preparation for an initial public offering (IPO) .
The IPO will offer 1.8 crore equity shares of Rs10 each for cash at a price to be decided through a 100% book-building process. India Infoline Ltd is the sole book running lead manager for the issue. The Mumbai-based travel and tour firm had planned to go public in January 2008 but shelved its plans due to market conditions at the time. The latest offering comprises of a fresh issue of 1.5 crore shares and an offer to sell 30.46 lakh shares by Lehman Brothers Opportunity Ltd, Deutsche Securities Mauritius Ltd and Merrill Lynch Capital Markets Espana S.A. Following the issue, the net equity will constitute 29.40% of the fully diluted, paid-up capital, while the new issue will be 29.08%. The shares are proposed to be listed on Bombay Stock Exchange and the National Stock Exchange.
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First Published: Fri, Aug 21 2009. 10 57 PM IST