Monte Carlo Fashion Ltd. opens their Public issue on 3rd December
Yesterday, Monte Carlo Fashion Ltd. announced that its public issue is going to open on 3rd of December, with a Price band of Rs. 630 to Rs. 645 per Equity Share.
The press conference was addressed by, AbrishSahni, Edelweiss Financial Services ltd., Padmakumar M. Nair, SBI Capital, Dinesh Gogna, Director of Corporate Finance & Taxation at OswalWoollen Mills Limited, Sandeep Jain, Executive Director, Monte Carlo Fashions Ltd,JawaharLalOswal, Chairman, Monte Carlo Fashions Ltd, with GautamGode, Alternate Director, Carlo Fashions Ltd .
The bids can be made for 23 Equity Shares at the minimum, thereafter. This offer which has been made will constitute the post Offer paid-up equity share capital of 25%.
Jawahar Lal Oswal, adressing the media
Book Building Process is used to make this Offer which is in compliance with the Securities and Exchange Board of India Regulations, 2009, under regulation 26(1), as amended, where the allocation of the offer would be conducted on a proportionate basis to the buyers with Qualified Institutions, on a condition that the company may allocate up to 60% QIB to the Anchor Investors, with discretion, of which, one third will be reserved for the Mutual Funds which are domestic in Nature.
Moreover, 5% of the QIB (which excluded the Anchor Investor Portion) will be available to be allocated proportionately to the Mutual Funds and QIBs, which is subject to Bids which are valid and which are being received either at the Offer Price, Or Above it.
Mr Dinesh Gogna stated that they have kept three aspects in mind; first is to manage the inventory, where they need to keep in mind the basic aspects, in order to achieve the results. Second should be to involve no creditors, which is the financial aspect of it. Being financially independent will help in the positive generation of surplus, which brings us to the third point, which is Cash Surplus. They are following the Nationwide Retail sales and Distribution Model.
They have also kept 175 Crores as surplus, which is being maintained and regulated annually.
“Of course,” he says, “there might be some ups and downs in a year or two, but they will be rare.”
Sandeep Jain further explains that it is a Labour Intensive Industry. Hence, it is important to keep the physical aspects, i.e. Branding and Quality up to the mark. One also needs to create a standard pricing technique for all the channels.
The Press announcement for the opening of the Public Issue For Monte Carlo Pvt. Ltd.
Mr. JawaharOswal, told the media, that The Fabric and the wool are imported from various countries, for example, the fabric and the wool are imported from China whereas the yarn, is imported from Australia.
Mr.Sandeep Jain Talked about the significance of e-commerce sites in the growth of business.
He told us that the motive behind Monte Cartlo Fashion Ltd, in introducing their products is to make it available in all the business channels. They have same uniform pricing strategies, for all channels which means, they want to provide quality and not attractive offers to lure the customers. “We have also done this, to prevent our retail channels from getting a hit on sales.”
“At this point, around 1 to 2% of the gross sales are through online sales. But it is gradually growing.” He added.
Picture Credits: Anurag Vats, One World News.
