Cox and Kings fixes IPO price at Rs 330/share

Cox and Kings fixed the issue price of shares for its initial public offer at Rs 330 a piece.

Travel and tourism firm Cox and Kings fixed the issue price of shares for its initial public offer at Rs 330 a piece,the upper end of the price band,to garner about Rs 610.39 crore.

The company has fixed the issue price at Rs 330 a share for offering 1.8 crier equity shares to public,Cox and Kings said in a statement.

The offer consists of a fresh issue of 1.5 crore shares of the company. Besides 30.46 lakh equity shares were alloted to anchor investors.

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Emerging Markets Growth Fund,Capital International Emerging Markets Fund,T Rowe Price International,SBI Mutual Fund,Reliance Capital and Sundaram BNP Paribas Mutual Fund were the anchor investors,it added.

Of the total amount,the company plans to utilise Rs 150 crore for acquisitions in India and abroad,another Rs 130 crore for repayment of loans,while rest would be used for expansion of existing operations and other needs.

The issue,which has closed on November 20,was subscribed 6.31 times,the release added.

The qualified institutional buyers portion was subscribed around 9.93 times. The portion reserved for non-institutional investors was subscribed by 10.74 times and the retail individual investors’ share was fully subscribed.

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