IPO Details
Cox & Kings (India) Ltd.
Turner Morrison Building , 1st Floor , 16 Bank Street , Mumbai , Maharashtra - 400001
Phone: 22709100 Fax: 22704600
Public Issue of 18496640 Equity Shares of Rs 10 each for Cash at a Premium of Rs 320 per share.
Issue Open Date Issue Closing Date Application Money Allotment Money
18/11/2009 20/11/2009 330 -
Lead Managers Registrar Listed at
INDIA INFOLINE LTD
Karvy Computershare Private Limited
Plot no. 17 to 24 , Vithalrao Nagar , Madhapur , Hyderabad , Andhra Pradesh - 500081
Phone: 23431553 Fax: 23431551 BSE, NSE
Object of the issue
As part of our growth strategy we want to increase our presence and reach in India and overseas by pursuing organic and inorganic growth with effective and efficient utilisation of the resources available to us.
The Objects of the Fresh Issue are to provide funding for the following:
1. Repayment of Loans 2. Acquisitions & Other Strategic Initiatives 3. Investment in Overseas Subsidiaries 4. Investment in Corporate Office & Upgrading our existing Operations 5. General Corporate Purposes 6. Meeting Fresh Issue related Expenses
Our Company believes that listing will enhance our Company's brand name further and create a public market for its Equity Shares in India. The `Main Objects' Clause of the Memorandum of Association of our Company enables us to undertake existing activities as well as the activities for which the funds are being raised through this Fresh Issue.
The Issue consists of a Fresh Issue of 15,450,000 Equity Shares and an Offer for Sale of 3,046,640 Equity Shares by the Selling Shareholders. We will not receive any proceeds from the Offer for Sale. Expenses related to the Issue will be borne by us except for the underwriting fees, management fees and selling commissions which will be borne by the Company and the Selling Shareholders proportionate to the Equity Shares offered by them.
Promoted by
Our Individual Promoters are:
1. Mr. A.B.M. Good 2. Mr. Ajay Ajit Peter Kerkar 3. Ms. Urrshila Kerkar 4. Ms. Elizabeth Kerkar
Our Corporate Promoter are:
1. Liz Investments Private Limited
Details of Our Individual Promoters:
1. Mr. A.B.M. Good
Identification Details
PAN Not Available Passport No. 099007656 Driving Licence Number GOOD9304183AB9NB 18 Bank Account Number 00014400 % pre-issue share holding in the Issuer Company 6.4% DIN 00189453
2. Mr. Ajay Ajit Peter Kerkar
Identification Details
PAN AADPK3298H Passport No. Z1591389 Driving Licence Number 8136918 Bank Account Number 001614100025997 (NRO) - Bank of India % pre-issue share holding in the Issuer Company 2.9% DIN 00202891
3. Ms. Urrshila Kerkar
Identification Details
PAN AGAPK5487B Passport No. 761097076 Bank Account Number 10473843992 - State Bank of India; 001610100025996 - Bank of India % pre-issue share holding in the Issuer Company 4.8% DIN 0021210
4. Ms. Elizabeth Kerkar
Identification Details
PAN AAOPK8500F Passport No. F2953015 Bank Account Number 10473845571 -State Bank of India % pre-issue share holding in the Issuer Company 1.3%
Ms. Elizabeth Kerkar has studied fine arts at the Kunstgewer be Schule. She is residing in India since 1961. In the year 1964 she was employed with The Indian Hotels Company Ltd. - Taj Group of Hotels which she served for 34 years and retired in the year 1998 as Senior Vice President, Interior Design. After her retirement from The Indian Hotels Company Ltd. she started interior and graphic design consultancy. Ms. Elizabeth Kerkar holds the distinction of being invited by the Honorable President of India, Shri Ramaswamy Venkataraman in 1989 to renovate the interiors of special suites for visiting dignitaries at Rashtrapati Bhavan. In 1992 she was conferred the medal and inducted in the Hall of Fame by Indian Association of Tour Operations. Ms. Elizabeth Kerkar was recognized for her innovative and creative contribution to the d‚cor and ambience of the various Taj Hotels, reflecting India's rich culture and heritage. She was the Designer of the year in the Interior & Lifestyle India Magazine in 1997.
Other details of Ms. Elizabeth Kerkar:
Age 72 years Address 11, Nowroji Mansion, 31,Woodhouse Road, N. P. Marg, Colaba, Mumbai - 400 039
Other Directorships 1. Liz Investments Private Limited 2. Sneh Sadan Graphic Services Private Limited
Details of Our Corporate Promoter:
1. Liz Investments Private Limited ('Liz Investment')
Liz Investments was incorporated on September 1, 1988 as a private limited company under the Companies Act, 1956. The registered office of Liz Investments is at 12 /13 Cecil Court, 1st Floor, Lansdowne Road, Colaba, Mumbai - 400 039. The Promoter of Liz Investments is Dr. A. B. Kerkar and Liz Investments is involved in the investment business.
The Main Objects as contained in its Memorandum of Association are:
To carry on the business as an Investment Company and to buy, underwrite, invest in, acquire in any manner, hold, sell or dispose of shares, stocks, debentures, debenture-stock, bonds, obligations and securities issued or guaranteed by any company constituted or carrying on business in India or elsewhere and debentures, debenturestock, bonds, obligations and securities issued or guaranteed by any Government, state, dominions, soveriegn, ruler, commissioners, public body or authority, supreme, municipal, local or otherwise, firm or person whether in India or elsewhere, and to deal with and turn to account the same, provided always that no investment imposing unlimited liability on the Company shall be made.
Shareholding Pattern:
The shareholding pattern of Liz Investments as on October 15, 2009 is as follows:
Name of Shareholder No. of Equity Shares Held Shareholding (%)
Mr. Ajay Ajit Peter Kerkar 250,000 52.06 Ms. Urrshila Kerkar 227,600 47.40 Ms. Elizabeth Kerkar 2,600 0.54 Total 480,200 100.00
Board of Directors:
The Board of Directors comprises of Dr. A. B. Kerkar, Ms. Elizabeth Kerkar and Mr. Pesi Patel.
Financial Performance:
The financial results of Liz Investments for the years ended March 31, 2006, 2007 and 2008 are as set forth below:
Rs. in million (except share data)
Particulars For the Years Ended March 31, 2006 2007 2008 2009
Income / Sales 0.15 1.10 1.82 1.46 Profit / (Loss) After Tax (1.61) (6.03) (23.51) (8.90) Equity Share Capital# 2.70 2.70 4.80 4.80 Reserves & Surplus (excluding Revaluation 55.98 45.34 21.84 12.94 Reserves) Earnings Per Share (in Rs; FV Rs.10/- ) (5.97) (22.29) (48.95) (18.53) Net Asset Value or Book Value Per Share (in Rs; 217 178 55 37 FV Rs.10/-)
#does not include Share Application Money which stood at Rs.177.65Mn as on March 31, 2008; Nil for other years.
Other details pertaining to Liz Investments:
Identification Details
PAN AAACL0565E Bank Account Number 10473842478 - State Bank of India % pre-issue share holding in the Issuer Company 14.5% Corporate Identification Number (CIN) U65990MH1988PTC048683
Liz Investments is an unlisted company and it has not made any public or rights issue in the preceding three years. It is not a sick company within the meaning of the Sick Industrial Companies (Special Provisions) Act, 1985, and is not in the process of any winding up. Further, Liz Investments has not been restrained by SEBI or any other regulatory authority in India from accessing the capital markets for any reason.
OUR PROMOTER GROUP
Apart from our Promoter, the following individuals and companies comprise our Promoter Group.
Promoter Group Entities as per Regulation 2(1)(zb) of the SEBI Regulations:
a) The natural persons who are part of our Promoter Group (due to the relationship with our Promoters) are as follows:
Relationship Mr. A.B.M. Good Mr. Ajay Ajit Peter Kerkar
Father Mr. Meyrick George Dr. A. B. Kerkar Mother Ms. Amy Millie Ms. Elizabeth Kerkar Brother - - Sister - Ms. Urrshila Kerkar Spouse - Ms. Emma Kerkar Children Ms. Antonia Good Ms. Jessica Kerkar Ms. Kathryn Maclay Ms. Nayantara Kerkar Spouse's Father - Mr. Mark Tully Spouse's Mother - Ms. Margaret Tully Spouse's Brother - Mr. Patrick Tully Mr. Sam Tully Spouse's Sister - Ms. Sarah Tully
Relationship Ms. Urrshila Kerkar Ms. Elizabeth Kerkar
Father Dr. A. B. Kerkar Mr. Friederich Mother Ms. Elizabeth Kerkar Ms. Klara Hefti - Brother Mr. Ajay Ajit Peter Sister - Spouse - Dr. A. B. Kerkar Children - Mr. Ajay Ajit Peter Kerkar Ms. Urrshila Kerkar Spouse's Father - Spouse's Mother - Spouse's Brother - Spouse's Sister -
PROMOTER GROUP COMPANIES
The companies that are part of the Promoter Group are as follows:
1. Sneh Sadan Graphic Services Private Limited
2. Kubber Investment (Mauritius) Private Limited
3. Good Relations (India) Private Limited
4. Ezeego One Travel & Tours Limited
5. Forever Travel Distribution Private Limited
6. Far Pavilions Tours and Travels Private Limited
7. Tulip Star Hotels Limited
8. V Hotels Limited
9. Tulip Hotels Private Limited
10. ABK Enterprises Private Limited
11. Tulip Star Leisure & Health Resorts Limited
12. Environmental Journey's Limited
13. The Bolshoi Express Limited
The details of the companies that form part of the Promoter Group are as follows:
1. Sneh Sadan Graphic Services Private Limited ("Sneh Sadan")
Sneh Sadan Graphic Services Private Limited was incorporated on May 24, 1980 as a private limited company under the Companies Act, 1956. The registered office of Sneh Sadan is at Cecil Court, 1st Floor, Lansdowne Road, Colaba, Mumbai - 400 039. The principal activity of Sneh Sadan is designing of graphics.
The Main Objects as contained in its Memorandum of Association are:
(a) To carry on the business of printers, stationers, lithographers, type- founders, stereotypers, electrotypers, photographic printers, photo-lithographers, cromo lithographers, engravers, die-sinkers, book-binders, designers, draughtsmen, paper and ink manufacturers, booksellers, publishers, advertising agents
(b) To carry on business as proprietors and publishers of newspapers, journals, magazines, books and other literary works and undertakings, - and to establish competitions in respect of contributions or information suitable for insertion in any publication of the Company, or otherwise for any of the purpose of the Company, and to offer and grant prizes, rewards, and premiums of such character and on such terms as may seem expedient.
(c) To act as manufacturers, traders, dealers, agents, representatives, collaborators, exporters, importers, wholesalers, stockists, retailers, brokers, commission agents or otherwise in any manner in respect of printing, publishing, photography, copying, paper, ink, dyes, colours, packaging, handicrafts, household and office utilities, machines and equipment and other items of daily use.
Shareholding Pattern:
The shareholding pattern of Sneh Sadan as on October 15, 2009 is detailed below:
Name of Shareholder No. of Equity Shares Held Shareholding (%)
Ms. Elizabeth Kerkar 8,501 99.96 Liz Investments Private Limited 3 0.04 Total 8,504 100.00
Board of Directors:
The Board of Directors comprises of Mr. Ajay Ajit Peter Kerkar, Ms. Elizabeth Kerkar and Mr. Pesi Patel.
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