5,399,241 Equity Shares of Eighty Jewellers Limited are subject to a Lock-Up Agreement Ending on 8-APR-2023.
April 07, 2023
Share
5,399,241 Equity Shares of Eighty Jewellers Limited are subject to a Lock-Up Agreement Ending on 8-APR-2023. These Equity Shares will be under lockup for 365 days starting from 8-APR-2022 to 8-APR-2023.
Details:
Pursuant to Regulation 236 and 238 of SEBI (ICDR) Regulations, 2018, an aggregate of 20% of the post issue capital held by our Promoter shall be considered as Promoter's Contribution (Promoter's Contribution) and shall be locked-in for a period of three years from the date of allotment of Equity shares issued pursuant to this Issue.
Our Promoter have given written consent to include 21,00,000 Equity Shares held by them and subscribed by them as part of Promoter's Contribution constituting 20.59% of the post issue Equity Shares of our Company.
In terms of Regulation 238(b) and 239 of the SEBI (ICDR) Regulations, 2018, in addition to the Minimum Promoter's contribution which is locked in for three years, as specified above, the entire pre-issue equity share capital constituting 53,99,241 Equity Shares shall be locked in for a period of one year from the date of allotment of Equity Shares in this Issue.
Eighty Jewellers Limited is an India-based company, which is engaged in business as a master franchisee of Anopchand Tilokchand Jewellers Private Limited. The Company is engaged in the trading of various jewelry, ornaments, watches and luxury articles made out of gold, silver, diamonds and platinum studded with precious and semi-precious stones under a business-to-business model (B2B) model. It has rights to open stores under the brand name of Anopchand Tilokchand Jewellers either directly (own showroom) or through sub franchisee arrangements. The Company sells its goods under the brand name of its group company, Anopchand Tilokchand Jewellers, through its sub-franchisee at Korba, Chhattisgarh. The Company's product portfolio includes rings, earrings, armlets, pendants, gajrahs, nose rings, bracelets, chains, necklaces, bangles, watches, luxury items and other wedding jewelry. Its products cater to the customers across high-end, mid-market and value market segments.