Thangamayil Jewellery IPO
Posted Oct.11, 2009 in Jewellery
Thangamayil Jewellery has planned an IPO this fiscal.
Thangamayil Jewelleryis a Madurai based jewellery retailer . It plans to raise Rs. 35 Crores from this IPO.
The proceeds from this IPO would be deployed to expand existing business by establishing retail outlets at Tuticorin, Dindigul, Theni, Nagercoil, Tirunelveli, Kovilpatti and Sivakasi and to renovate the existing outlet at Madurai. Besides this, the issue proceeds would also be used to meet the working capital requirement and to meet the issue expenses.
Thangamayil is one of the leading jewelry retailers in Madurai trading in gold jewelry, diamond and platinum jewels. The ornaments are also made to order as per specific requirements by the customer and the same are manufactured at the company`s unit near Madurai. Further gold Jewels are bought readymade from various dealers in the states of Andhra Pradesh, Gujarat, Kerala and West Bengal, according to the designs, models and current fashions and demand in the market for sale at the counters.
Thangamayil introduced the Hallmarking practice for the first time in Madurai and also
conducted an awareness campaign introducing this concept to the customers in the market serviced by the company. It has its showroom at Netaji Road, Madurai. This
showroom was set up in the year 2001. The showroom is housed in a three storied set up in total area of 11,416 sq. ft.