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Tribhovandas Bhimji set for $39mn IPO

Jewellery retailer Tribhovandas Bhimji Zaveri Ltd will launch an initial public offering of shares.

Written by Agencies | Mumbai | Published: April 17, 2012 10:19:47 am

Indian jewellery retailer Tribhovandas Bhimji Zaveri Ltd will launch an initial public offering (IPO) of shares on April 24,according to newspaper advertisements on Tuesday,a deal that sources said aims to raise up to 2 billion rupees ($39 million).

Mutual Funds Check for top funds

IDFC Capital and Avendus are book running lead managers for the issue,the advertisement said. The offering will close on April 26.

Tribhovandas,which sells gold and diamond jewellery,currently has 14 showrooms across India,according to its website.

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