Friday, December 18, 2009

Talwalkars Files DRHP With SEB

Fitness services provider, Talwalkars Better Value Fitness is planning to enter capital markets with a public issue of 6,050,000 equity shares of Rs 10. It has filed a draft red herring prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) and wants to raise over Rs 70 crore. The issue will constitute 25.09% of the fully diluted post issue paid-up capital of the company. Promoters' stake will be reduced to 59.39% and non-promoters to 15.42% post issue. It is one of the largest fitness chain in India (as per the statistics of The IHRSA Asia Pacific Market Report, 2008) offering a diverse suite of services including gyms, spas, aerobics and health counseling under the brand ‘Talwalkars’....

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