"The price band of the issue which will open on November 10 has been fixed as Rs 120 to Rs 140," Urvi A Piramal, chairperson, Piramyd said.
The company would be offering the shares of Rs 10 each at a premium to be determined through the book-building process.
The proceeds of the IPO would be used to triple the company's business in the next two and half years by setting up 12 additional mega stores and 69 trumart stores at various locations in the country, Piramal said.
"It will be used for our capex requirements, upgradation of the infrastructure facilities and repayment of bridge loans," she added.
The issue includes a promoter contribution of 40 lakh equity shares and the balance 50 lakh which constitutes 25 per cent of the post issue paid up capital of Rs 20 crore comprises the net offer to the public.
Enam Financial Consultants Pvt Ltd, DSP Merrill Lynch Ltd and Edelweiss Capital Ltd are the book running lead managers to the issue.
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