Breaking News

You are here » Indian-Commodity  :  IPO  :  Flemingo Travel Retail files DRHP with SEBI for IPO

19-Feb2018

Flemingo Travel Retail files DRHP with SEBI for IPO

Flemingo Travel Retail has filed a Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 2,600 crore through initial public offering (IPO). The company will issue fresh shares worth Rs 2,423 crore besides an offer for sale of 11,29,500 scrips by one of its subsidiary Flemingo Duty Free Shop Mumbai. The equity shares are proposed to be listed on the BSE and the NSE.

The money raised through the public issue will be utilized towards acquisition of 100% of the equity interest in Flemingo International (UK) from corporate promoter. The funds will also be used to buy all shares of Flemingo Duty Free Shop from Flemingo International, certain individual members of promoter Group -- Viren Ahuja, Arjun Ahuja and Karan Ahuja, and Symbolic Infra Projects.

ICICI Securities, Yes Securities (India), Axis Capital, Credit Suisse Securities (India) and HSBC Securities and Capital Markets (India) are the book running lead managers to the offer. 

Flemingo Travel Retail is a global travel retailer with a leading position in Indian and Sri Lanka travel retail markets, where it operates core duty-free stores and the aggregate retail area of core duty-free stores.


Related News

View all news

Spandana Sphoorty gets SEBI's nod for IPO

Spandana Sphoorty Financial has received markets regulator Securities and Exchange Board of India's (SEBI) approval to raise funds through an initial public offering (IPO). The IPO consists of fresh issue......

Bharat Hotels gets SEBI's approval for IPO

Bharat Hotels has received markets regulator Securities and Exchange Board of India's (SEBI) approval to raise funds through an initial public offering (IPO). The IPO comprises sale of fresh equity shares......

Chartered Speed files DRHP with SEBI for public issue

Fleet bus operators Chartered Speed has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise an estimated Rs 273 crore through an Initial......

Top News

View all news

Tata Motors signs LTS agreement with its employees

Tata Motors has signed a long-term wage settlement (LTS) agreement with its employees. Under the agreement, workmen will get a wage rise of Rs 9,000 per month along with other incentives based on performance.......

Canara Bank invites bids from merchant bankers to manage its $350-500 million MTN issue: Report

Canara Bank has reportedly invited bids from merchant bankers to manage its $350-500 million issue of senior unsecured/tier-II capital bonds under its medium-term note (MTN) programme. The issue size may......

Alembic Pharma gets USFDA's nod for Acetazolamide Extended-Release Capsules

Alembic Pharmaceuticals (Alembic) has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Acetazolamide Extended-Release Capsules, 500......