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Celebrity intends to enter capital market
26 Oct '05
1 min read
Celebrity Fashions Ltd plans an IPO to provide financial support for starting new units as well as for opening new stores for its brand.
Rs 160-crore Chennai-based Celebrity Fashions Ltd, exports garment to some of the famous brands of the world and it is a parent company of the men's wear brand, Indian Terrain.
With a public issue of 45.5 lakh equity shares of Rs 10 each on a book-building basis, the company intends to penetrate the capital market.
The issue will comprise 25.35 percent of the fully diluted post-issue paid-up capital of the company, said a company official. Celebrity Fashions Ltd has filed a draft Red Herring prospectus with SEBI. The IL&FS Investsmart is the book running lead manager for the issue.
The company looks forward to huge potential for expansion in the world textile industry after quota restrictions are abolished and the branded apparel local market.
Company's strategy also includes expansion of corporate office and allocating finances for potential acquisitions.
Rs 160-crore Chennai-based Celebrity Fashions Ltd, exports garment to some of the famous brands of the world and it is a parent company of the men's wear brand, Indian Terrain.
With a public issue of 45.5 lakh equity shares of Rs 10 each on a book-building basis, the company intends to penetrate the capital market.
The issue will comprise 25.35 percent of the fully diluted post-issue paid-up capital of the company, said a company official. Celebrity Fashions Ltd has filed a draft Red Herring prospectus with SEBI. The IL&FS Investsmart is the book running lead manager for the issue.
The company looks forward to huge potential for expansion in the world textile industry after quota restrictions are abolished and the branded apparel local market.
Company's strategy also includes expansion of corporate office and allocating finances for potential acquisitions.
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