Cox & Kings IPO price band at Rs316-330/share

Cox and Kings (India) Limited fixed the price band between Rs316 and Rs330 per share for its Initial Public Offering (IPO) of 18,496,640 equity shares of Rs. 10 each for cash at a price to be decided through a 100% Book-Building Process. The Bid/Issue opens on November 18, and closes on November 20. The company has been assigned a "CARE IPO GRADE 4" to the proposed IPO. CARE IPO Grade 4 indicates above average fundamentals. CARE assigns IPO grades on scale of Grade 5 to Grade 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.

The IPO consists of a Fresh Issue of 15,450,000 shares and an Offer for Sale of 3,046,640 shares by Lehman Brothers Opportunity Limited, Deutsche Securities Mauritius Limited and Merrill Lynch Capital Markets Espana, SA, SV. The IPO comprises of a net issue to the public of 18,296,640 shares and a reservation of up to 200,000 shares for the eligible employees on a competitive basis. The IPO and the Net Issue would constitute 29.40% and 29.08% respectively of the fully diluted post issue paid-up capital of the company.