Cox and Kings fixes IPO price band

Cox and Kings said it has fixed the price band between Rs 316 and Rs 330 for its maiden issue.

Travel and hospitality firm Cox and Kings said it has fixed the price band between Rs 316 and Rs 330 for its maiden issue,that will see 29.08 per cent of the company’s shares being offered to the public.

The company has planned to come out with an initial public issue of 1.85 crore equity shares of Rs 10 each and it would be a 100 per cent book building process,Cox and Kings said.

The issue would consist of a fresh issue of 1.55 crore equity shares by the company and offer for sale of 30.45 lakh equity shares by Lehman Brothers Opportunity,Deutsche Securities Mauritius and Merill Lynch Capital Market Espana.

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The IPO would also reserve up to two lakh equity shares of Rs 10 each for the eligible employees.

The issue and the net issue would constitute 29.40 per cent and 29.08 per cent respectively of the fully diluted post issue paid up capital of the company.

The bid for the IPO would open on November 18 and close on November 20,the company said.

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