TGB Banquets & Hotels Ltd IPO

IPO Synopsis

Public issue of 2,30,00,000 equity shares of Rs.10/- each for cash at a price of Rs.40/- per equity share (including a share premium of Rs.30/- per equity share) aggregating Rs.92.00 Crores by Bhagwati Banquets and Hotels Limited (the company or issuer) (hereinafter referred to as the issue) comprising promoters contribution of 45,44,600 equity shares of rs 10/- each at a price of Rs.40/- for cash aggregating to Rs.18.18 Crores (hereinafter reffered to as the promoters contribution) and a net issue to the public of 1,84,55,400 equity shares of Rs.10/- each at a price of Rs.40/- for cash aggregating to Rs.73.82 Crores (hereinafter referred to as the net issue.) The net issue to public would constitute 63.02% of the post issue paid up capital of the company. Issue Price is Rs.40/- per equity share of face value Rs.10/- The issue price is 4 times the face value