Cox and Kings (India), one of the oldest and most reputed travel organizations in India operating as a one-stop-shop for all travel related products, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to enter the capital market soon with an initial public offering (IPO) of 8,700,000 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.
The issue comprises a net issue of 8,600,000 equity shares to the public and a reservation of up to 1,00,000 equity shares for permanent eligible employees. The issue would constitute 23.75% of the fully diluted post Issue paid up capital of the company and the net issue will constitute 23.48% of the fully diluted post issue paid-up capital of the company.
The equity shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange.
The company is considering a Pre-IPO Placement of certain equity shares with some investors and will complete the issuance of such equity shares prior to the filing of the red herring prospectus (RHP) with the Registrar of Companies (RoC). The number of equity shares in the issue will be reduced to the extent of the equity shares proposed to be allotted in the Pre-IPO Placement, if, any, subject to the net issue to the public being at least 10% of the fully diluted post-Issued paid up capital of the company.
Of the total equity float, at least 60% of the net issue shall be allocated on a proportionate basis to qualified institutional buyers out of which 5% shall be available for allocation on a proportionate basis to Mutual Funds only. Further, not less than 10% of the net issue shall be available for allocation on a proportionate basis to non-institutional bidders and not less than 30% of the net issue shall be available for allocation on a proportionate basis to retail individual bidders.
About the Company
Cox & Kings is the oldest established travel names in the travel business. It offers a one-stop shop for the travel needs of all segments of travellers. It specializes in Destination Management, Leisure Travel, MICE, NRI Holidays and Trade Fairs. In currency rxchange the company has been granted Category II license by the Reserve Bank of India enabling it to enjoy Authorised Dealer Status.
Cox & Kings has over 12 fully owned offices in India across key cities such as New Delhi, Chennai, Bangalore, Kolkata, Ahmedabad, Kochi, Hyderabad, Pune, Goa, Nagpur and Jaipur. The worldwide offices are located in UK, USA, Japan, Russia, Singapore and Dubai. It has associate offices in Germany, Italy, Spain, South Africa, Sweden and Australia.
The book running lead manager to the issue is Enam Securities Private Limited.
Source: Moneycontrol.com
Tuesday, January 29, 2008
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