Cox and Kings files DRHP with the SEBI

Mumbai, January 29, 2008: Cox and Kings (India) Limited (the “Company”), one of the oldest and most reputed travel organizations in India operating as a one-stop-shop for all travel related products, has filed its Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”) to enter the capital market soon with an Initial Public Offering (“IPO”) of 8,700,000 equity shares of Rs 10 each (“Equity Shares”) for cash at a price to be decided through a 100% Book-Building Process (the “Issue”).

The Issue comprises a Net Issue of 8,600,000 Equity Shares to the Public and a reservation of up to 1,00,000 Equity Shares for Permanent Eligible Employees. The Issue would constitute 23.75% of the fully diluted post Issue paid up capital of the Company and the Net Issue will constitute 23.48% of the fully diluted post issue paid-up capital of the Company. The Equity Shares are proposed to be listed on Bombay Stock Exchange of India Limited (“BSE”) and National Stock Exchange Limited (“NSE”).

The Company is considering a Pre-IPO Placement of certain Equity Shares with some investors (“Pre-IPO Placement”) and will complete the issuance of such Equity Shares prior to the filing of the Red Herring Prospectus (“RHP”) with the Registrar of Companies (“RoC”). The number of Equity Shares in the Issue will be reduced to the extent of the Equity Shares proposed to be allotted in the Pre-IPO Placement, if, any, subject to the Net Issue to the public being at least 10% of the fully diluted post-Issued paid up capital of the Company.

Of the total equity float, at least 60% of the Net Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIB”) out of which 5% shall be available for allocation on a proportionate basis to Mutual Funds only. Further, not less than 10% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 30% of the Net Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders.

Cox & Kings is the oldest established travel names in the travel business. It offers a one-stop shop for the travel needs of all segments of travellers. It specializes in Destination Management, Leisure Travel, MICE, NRI Holidays and Trade Fairs. In Currency Exchange the company has been granted Category II license by the Reserve Bank of India enabling it to enjoy Authorised Dealer Status.

The company has been winning numerous awards. In the recent past it has won the CNBC Awaz award for the best travel operator for 2007. It has also won the TAFI-Abacus award for the best outbound tour operator and the Best Domestic Tour operator for the year 2007. It has won the Government of India’s National Tourism Award for Conferences, for as many as seven years. It has bagged the National Tourism Award for the best Domestic Operator for the last three years. At the Galileo Express Awards , it won the Best Outbound Tour Operator award in 2003-04 and since then for three years in a row, it has been winning the Best Domestic Tour Operator award. In 2005-06 it also won the award for the Best Technology platform in the travel industry.

Cox & Kings has over 12 fully owned offices in India across key cities such as New Delhi, Chennai, Bangalore, Kolkata, Ahmedabad, Kochi, Hyderabad, Pune, Goa, Nagpur and Jaipur. The worldwide offices are located in UK, USA, Japan, Russia, Singapore and Dubai. It has associate offices in Germany, Italy, Spain, South Africa, Sweden and Australia.

The Book Running Lead Manager (“BRLM”) to the Issue is Enam Securities Private Limited.

Source : Equity Bulls

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