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NT Bureau
Chennai, Feb 24:

        Page Industries Limited, the exclusive licensee of Jockey International Inc, India, Sri Lanka, Nepal, Bangladesh and Maldives entered the capital market with an initial public offering (IPO) of 2,804,000 equity shares of Rs 10 each for cash and at a premium to be decided through a 100 per cent book building process.

        The price band has been fixed between Rs 360 and Rs 395 per eq-uity share. The issue which opened on 23 February will close on 27 Feb-ruary 2007. Addressing mediaper-sons Page Industries Limited man-aging director, Sunder Genomal said, 'the public issue of 2,804,000 equity shares comprise a fresh issue of 1,412,354 shares and an offer for sale of 1,391,646 shares by the selling to shareholders. The offer shall consti-tute 25.14 per cent of the post issue paid - up capital of the company.

        The net of 2,789,000 equity shares other than the employees reservation portion (15,000 equity shares) will constitute 25 per cent of the post-offer capital of the company. He said 50 per cent of the net offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (QIB) wherein five per cent of the QIB portion shall be avialbale for allocation on a proportionate basis to mutual funds only. And not less than 15 per cent of the net offer shall be available for allocation on a proportinate basis to non-institutional basis to retail individual bidders, subject to valid bids being received at or above the offer price.

        Detailing about the objectives of the offer, Genomal said the funds mobilised will be used for brand building, expansion of garment manufacturing capacity in the existing facility, and to set up a new garment manufactuing facility at Bommasandra besides expansion of elastic, socks manfacturing facilit.

        The company has posted a total income of Rs 1,037.78 million and a net proft of Rs 113.91million fo the financial year ending 31 March, 2006.