Friday, December 18, 2009

Talwalkars filed a DRHP with SEBI for IPO

Talwalkars Better Value Fitness Limited, owned by Mr. Madhukar Talwalkar, is planning a public issue of 6,050,000 equity shares of Rs 10 each. The company has filed a DRHP (draft red herring prospectus) with SEBI (Securities & Exchange Board of India).

Talwalkars is one of the largest fitness chain in India offering a diverse suite of services including gyms, spas, aerobics and health counseling under the brand "Talwalkars". As of today company is operating 51 health clubs in 24 cities across the country serving over 55,000 members.

The company intends to spend the issue proceeds for setting up of additional health clubs, repay certain unsecured loans and for Issue related expenses.

For the year ended March 31, 2009, the company reported profit after tax of Rs 56.87 Million on total income of Rs 594.24 Million and for the period ended April - September 2009, it has posted profit after tax of Rs 31.90 crore on total income of Rs 358.82 crore.

India Infoline Ltd is the book running lead manager of the issue and Link Intime India Ltd is the registrar.

For more information about Talwalkars IPO please visit: