Joy Alukkas Group For Public Issue
Kerala-based Joy Alukkas Group is planning to enter capital market with an issue of 1.8cr shares, mobilizing Rs. 550 – 600cr for the expansion of the Group's sales outlets. Company had already approached SEBI with its plans. Issue is likely to be in April. Currently the group has 23 outlets in the country and a strong presence abroad.
Joy Alukkas Group is owned by the Thrissur-based Joy Alukkas family, which now holds 100% shares of the company. After the issue, the family stake will stand at 73.54%. Issue prince is likely to be around Rs 300 per share, and the amount collected would be Rs. 540cr. Actual price is not announced officially. The Group's value is considered to be around Rs. 2,400cr
During the previous financial year, the group clocked a turnover of Rs 1822cr, and the net profit was Rs 67cr.
The group plans to open 20 more new outlets.
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