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Page Industries makes its bow on bourses

16
Mar '07
The exclusive licensee of Jockey International Inc. (USA) for India, Sri Lanka, Nepal, Bangladesh and Maldives, Page Industries, is all set to list on stock exchange with 1, 11,53,874 shares, today.

The offer price was fixed at Rs360 per share.

The company has come out with an initial public offering, (IPO) of 2,804,000 equity shares of Rs10 each which was subscribed 1.44 times.

The company intends to raise capital through the IPO route for brand building, expansion of garment manufacturing capacity in existing facility, setting up of a new garment manufacturing facility at Bommasandra in Bangalore, expansion of elastic manufacturing facility, and socks manufacturing facility, purchasing a corporate head office at Bangalore, implementation of new generation ERP software (SAP), and modernisation of production process.

Page Industries has also planned to expand existing range of products through innovation, accelerate brand building efforts, renew multi-pronged distribution strategy, explore export initiative, exploit unprecedented retail growth in India, and further invest in strengthening the manufacturing infrastructure.


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