An Initial Public Offer (IPO) by C Mahendra Exports opened today and will run upto January 6, 2011. The IPO will be 15,000,000 Equity Shares of ` 10/- each, which are proposed to be listed on the Bombay Stock Exchange Limited and National Stock Exchange of India Limited.

The company is an integrated diamond and diamond jewellery company. It plans to deploy the finds raised through the IPO for setting up of a diamond processing unit at Gujarat, a jewellery manufacturing unit at Mumbai, retail outlets and financing its brand development expenses.

The Price Band of the Issue has been fixed at `95/- to ` 110/- per equity share. The Issue will be made through a 100 percent book building process and will constitute 25 percent of the fully diluted post issue paid-up equity share capital of the company. At least 50 percent of the Issue shall be allocated to Qualified Institutional Buyers, not less than 35 percent for allocation on a proportionate basis to Retail Individual Bidders and not less than 15 percent for allocation on a proportionate basis to Non Institutional Bidders.

YES Bank Limited and Anand Rathi Advisors Limited are the Book Running Lead Managers to the Issue while Link In time India Private Limited is the Registrar to the Issue.