PCH Retail files IPO papers for MBOs expansion

By SiliconIndia   |   Wednesday, June 29, 2011
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Bangalore: PCH Retail (Punjab Crockery House)offers to tap the capital market with a public issue of 1,68,27,000 equity shares of face value of Rs. 10 each, diluting 38.71 percent stake. The red herring date of this issue is 23 June 2011. The issue consists of promoters contribution of up to 55.27 lakh shares. PCH Retail is a leading retail and distribution house that operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. The company's headquarters is in Hyderabad (Andhra Pradesh). They provide the best world class products to the customers so that they enjoy a better lifestyle with maximum value for money. It sells consumer durables & electronics products of major brands in Andhra Pradesh, Tamil Nadu, Karnataka and Maharashtra through its 110 Multi Brand Outlets (MBOs) and 11 warehouses spread across an area of 6,21,000 sq. ft. Company reported net profit of Rs. 12 crore on its total income of Rs. 741.7 crore in nine months period ended on December 2010. The book running lead manager is Bob Capital Markets. The company proposes to expand the retail chain by adding 100 new MBOs with an estimated area of 9.5 lakh sq ft. in Tier I, Tier II and Tier II cities across India. Total project cost estimated by the company will be Rs. 269.79 crore. It also wants to repay debt of Rs. 2.84 through IPO money.
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