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TCG Lifesciences Ltd files DRHP with Sebi

TCG Lifesciences Ltd files DRHP with Sebi
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First Published: Wed, Oct 03 2007. 05 00 PM IST
Updated: Wed, Oct 03 2007. 05 00 PM IST
PTI
New Delhi: TCG Lifesciences Ltd today said it has filed draft offer document with capital market regulator Sebi for an initial public offering.
According to the draft red herring prospectus, the company proposes to issue 95 lakh shares of Rs10 each at a price to be decided through a 100% book-building process.
The IPO will constitute 14.41% of the fully diluted post-issue paid-up capital of the company and the shares are proposed to be listed on the National Stock Exchange and Bombay Stock Exchange, TCG Lifesciences said in a statement.
Kotak Mahindra Capital and Enam Securities are the book running lead managers.
The IPO proceeds will be utilised towards financing the planned capital expenditure, investments in subsidiaries, repayment of debt and general corporate purposes.
The company is also considering a pre-IPO placement of up to 15 lakh shares, the statement added.
Of the proposed shares, up to five lakh shares will be reserved for employees. Sixty per cent of the net issue will be allocated to qualified institutional buyers, 10% to non-institutional bidders and remaining 30% to retail investors.
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First Published: Wed, Oct 03 2007. 05 00 PM IST
More Topics: TCG Lifesciences | IPO | NSE | Sebi | DRHP |