Madurai Jeweller - Thangamayil Jewellery/Jewellry going public - IPO

I am really glad to hear such news about a Madurai Gold Jewellery retailer.

YES!! Madurai based Gold Jewellery retailer, Thangamayil Jewellery is going public in market and issued IPO for almost rupees 29 crores.

It is one of the leading jewellery retailers in Madurai and trades in Gold Jewellery, Diamond and Platinum jewels. It has introduced the Hallmarking practice for the first time in Madurai.

For the year ended March 31, 2009, it has reported 10% jump in its net sales.

The price band for the issue has fixed at Rs 70-75 per equity share.

The company intends to use issue proceeds for expansion of existing business by establishing retail outlets at Tuticorin, Dindigul, Theni, Nagercoil, Tirunelveli, Kovilpatti and Sivakasi, and for renovation of the existing outlet at Madurai.

Considering the increase of Gold prices and profits these companies make - it is a good idea to think about these companies for investment. Disclaimer - I am NO financial adviser.