Talwalkars Better Value Fitness Limited IPO

Incorporated in 2003, Talwalkars Better Value Fitness Limited is incorporated on 2003 and they became one of the largest fitness chain in India by offering a diverse suite of services including gyms, spas, aerobics and health counseling under the brand 'Talwalkars'. As on today they are operating around 51 health clubs in 24 cities serving over 55,000 members.
Fitness chain Talwalkars Better Value Fitness Ltd said on Monday it has priced its initial public offering(IPO) to raise up to RS 774.4 m at RS123 -128 a share of face value RS 10.The issue to sell 6.05 million shares will constitute 25.09 percent of the fully diluted post issue paid-up capital of the company, it said in a statement. The market lot consists of 50 shares and it will be listed in both BSE and NSE.India Infoline Ltd is the sole book running lead manager to the issue, which opens on April 21 and closes on April 23.
The aim of this issue is to increase the number of health clubs and to repay the loans which they availed earlier and also to meet the expenses.