Tree House Education fixes issue price at Rs 135/share

Tree House Education and Accessories , an educational service provider has fixed its issue price at the lower end of band of Rs 135-153 a share.

The company has raised Rs 112.06 crore through the issue of 84.32 lakh equity shares, by diluting 25.01% stake.

It intends to utilise the proceeds for expansion of pre-school business; acquisition of office space, procurement of exclusivity rights to provide educational services and construction of infrastructure for educational complexes in Rajasthan and Gujarat; and repayment of loan.

IPO, which was opened for subscription between August 10-12, was subscribed 1.85 times.

There will be a special discount of Rs. 6/- per equity share for retail investors, who will get consequently share at  Rs.129/- per share.