SP Apparels Ltd., a leading supplier of kidswear to international high-street retailers, has announced plans to tap the capital market to raise Rs. 215 crore through an Initial Public Offer (IPO). The price band of equity shares of the value of Rs.10 has been fixed between Rs.258 and Rs.268. The IPO will open on August 2, 2016, and close on August 4, 2016. Bids can be made for a minimum of 55 equity shares and in multiples of 55 equity shares thereafter. Besides, private equity investor New York Life Investment Management India Fund (FVCI) II LLC, which holds 10.5 per cent stake in SP Apparels, is making an offer for sale of up to 900,000 equity shares.
