Fitness chain Talwalkars Better Value Fitness looks to raise up to Rs 125 crore through non convertible debentures (NCDs) to fund its expansion plans.

“In order to enhance long-term resources for financing the capital expenditure and for general corporate purposes, the company may offer subscription for NCDs up to Rs 125 crore, in one or more series/tranches, on private placement basis…during 2016-17,” Talwalkars Better Value Fitness Ltd said in a postal ballot notice to its shareholders.

Talwalkars plans to raise upto Rs 125 cr via NCDs
Talwalkars plans to raise upto Rs 125 cr via NCDs

This year in March, the firm had announced its plans to invest Rs 100 crore over the next three years to open 100 gyms across Sri Lanka.

“Over the next three years, the company plans to inaugurate some 100 gyms across the length and breadth of Sri Lanka, investing about a crore in the latest equipment and technology in each of the facilities,” Talwalkars had said in a BSE filing.

The company opened gyms in Sri Lanka in collaboration with the Colombo-based Power World Gyms Ltd (PWG). In October last year, Talwalkars had picked up a 49.5 percent stake in PWG for an undisclosed sum.

They runs 176 fitness centres in 85 cities and towns across South Asia.

Talwalkars Fitn stock price

On May 12, 2016, at 16:00 hrs Talwalkars Better value Fitness was quoting at Rs 200.10, up Rs 1.00, or 0.50 percent. The 52-week high of the share was Rs 361.00 and the 52-week low was Rs 182.00.

The company’s trailing 12-month (TTM) EPS was at Rs 17.97 per share as per the quarter ended March 2016. The stock’s price-to-earnings (P/E) ratio was 11.14. The latest book value of the company is Rs 108.14 per share. At current value, the price-to-book value of the company is 1.85.


Talwalkars plans to raise upto Rs 125 cr via NCDs