Page Industries files DRHP with SEBI

Mumbai, January 2, 2007: Page Industries Limited, exclusive licensee of Jockey International Inc. (USA) for India, Sri Lanka, Nepal, Bangladesh and Maldives, has filed its Draft Red Herring Prospectus with Securities & Exchange Board of India to enter the capital market with its initial public offering of equity shares.

The company proposes to issue 2,804,000 equity shares of Rs.10 each for cash at a premium to be decided through a 100% book building process. Of this, 1,412,354 equity shares would constitute fresh issue of equity shares and the balance 1,391,646 equity shares are an offer for sale by the promoters.

The total offer constitutes 25.14% of the post issue fully diluted paid up capital of the company.

Page Industries Limited proposes to reserve 15,000 equity shares for allotment to eligible employees of the company. The balance 2,789,000 equity share is the net offer to public. Out of this net offer upto 50% will be allocated to qualified institutional bidders, of which upto 5% will be allotted to mutual funds only. Further, 15% is to be allocated to non-institutional investors and upto 35% will be allocated to retail individual investors.

Page Industries Limited commenced operations in the year 1995 in Bangalore with the manufacturing, distribution and marketing of Jockey products. The company's promoters have been associated with Jockey International Inc for 47 Years as their sole licensee in Philippines.

Jockey has the distinction of being the only innerwear brand in the country which has been recognized as "Superbrand". Jockey is retailed in over 14,000 stores in over 1100 cities and towns spanning the entire length and breadth of the country. The company reported a revenue growth from Rs.71.1 Million in FY1997 to Rs 1011.9 Million in FY 06.

The company has appointed IL&FS Investsmart Limited as the sole Book-Running Lead Manager to the issue.

The Draft Red Herring Prospectus will be available on the website of SEBI at www.sebi.gov.in and the website of the BRLM at www.investsmartindia.com.

Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled "Risk Factors" of the Draft Red Herring Prospectus before making an investment decision.