Tree House Education and Accessories , an educational services provider, is going to list its shares on the exchanges on August 26, 2011.
The company has fixed its issue price of Rs 135 per share. QIB and HNI received shares at Rs 135 per share while retail category received at Rs 129 per share (Discount of Rs 6 to issue price).
Tree House mopped up Rs 112.06 crore via IPO of 84,32,189 equity shares. The issue was opened for subscription during August 10-12, 2011.
Tree House operates the largest number of self-operated pre-schools in India. (Source: CRISIL Report - December 2010). As of June 15, 2011, it has 223 pre-schools under the brand name of “Tree House” across 33 cities (as per municipal limits) in India; out of which 149 are operated by the company and the rest by franchisees.
It intends to utilise that proceeds for expansion of pre-school business; acquisition of office space; procurement of exclusivity rights to provide educational services; construction of infrastructure for educational complexes in Rajasthan and Gujarat; and repayment of loan.
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