But what really saved his enterprise was e-commerce. He ended up closing four Fully Booked outlets, although he says these stores were already not doing well prior to the Covid lockdowns. Honestly, we didn't know if there was really a market.”ĭaez with wife Chris and their Japanese business partners from Kinokuniya.Īs it did for most businesses, the pandemic posed a real challenge for Daez’s bookstores. “But we we were not using yet the name of Kinokuniya because at that time, we were still kind of experimenting it was our first time selling Japanese books. The Filipino businessman says Fully Booked has actually been carrying Japanese titles since 2019. The deal sounded quite simple in the beginning, really: Kinokuniya basically supplies Japanese books to Daez’s chain. But, you know, normally relationships with the Japanese might take time to nurture but once you have it, it's good for life.” And as is normal with Japan, it takes quite a bit of time to actually formalize things with them because they're always very cautious. He and the Kinokuya team then met in Tokyo in 2018. And they said that they wanted to invite Kinokuniya and wanted to get a local partner,” recalls Daez. “When they reached out to me, they told me they were setting up a mall here in Fort Bonifacio. The link responsible for the Fully Booked-Kinokuniya merger is Mitsukoshi whose people began talking to Daez roughly five years ago. “I guess this is also my way of sharing the love and passion for graphic novels to the Philippine public.” The grey market is an unofficial market where the IPO shares can be bought and sold till the listing on the bourses.Daez at the Fully Booked Kinokuniya store in Mitsukoshi BGC. The IPO shares traded with 20 percent premium in the grey market, analysts said on anonymity. The basis of the allotment of IPO shares will be finalised by August 2 and trading in equity shares will start on August 7, as per the IPO schedule. Yatharth Hospital, which operates three super specialty hospitals in Delhi NCR and one multi-speciality hospital in Madhya Pradesh, has a total capacity of 1,405 beds, engaging 609 doctors. The company will use the net fresh issue proceeds mainly in repaying debts, capital expenditure for hospitals, and funding inorganic growth initiatives.Īlso read: Yatharth Hospitals IPO: Wait for a more differentiated business model to emerge The price band for the offer is set at Rs 285-300 per share. The offer comprises a fresh issue of Rs 490 crore by the company and an offer-for-sale of 65.51 lakh equity shares by promoters Vimla Tyagi, Prem Narayan Tyagi and Neena Tyagi. HSBC Global Investment Funds, Troo Capital, Carnelian Capital, BNP Paribas Arbitrage, SBI Life Insurance, ICICI Prudential, HDFC Mutual Fund, Aditya Birla Sun Life Trustee, Goldman Sachs, and Jupiter India Fund were among the investors who participated in the anchor round. The hospital chain operator mopped up Rs 206 crore from the anchor book, a part of qualified institutional buyers portion and, accordingly, the offer size has been reduced by Rs 205.96 crore to Rs 480.59 crore from earlier Rs 686.55 crore.Īlso read: Yatharth Hospital IPO opens, analysts upbeat: Should you bid? The company has reserved half of its offer size for qualified institutional buyers, 15 percent for high networth individuals and the remaining 35 percent for retail investors. Qualified institutional buyers also started putting in bids on the first day, subscribing for 11.86 lakh equity shares against an allotted quota of 46.45 lakh equity shares. Retail investors were at the forefront on debut, buying 1.25 times the reserved portion, while the part set aside for high networth individuals was booked 1.77 times. The public issue of Noida-based Yatharth Hospital and Trauma Care Services recorded 108 percent subscription, garnering bids for 1.78 crore equity shares against an offer size of 1.65 crore shares on the first day of bidding on July 26.
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