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Press release :  
Cox and Kings (India) Limited files DRHP with the SEBI
29th, January 2008

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.

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

Note
Cox and Kings (India) Limited is proposing, subject to market conditions and other considerations, a public issue of its equity shares and has filed its Draft Red Herring Prospectus ("DRHP") with the Securities & Exchange Board of India ("SEBI"). The DRHP is available on the website of SEBI at www.sebi.gov.in and on websites of the BRLM at www.enam.com.

This press release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any equity shares, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. Any potential investor should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the DRHP filed with the SEBI including the section titled “Risk Factors”. The Equity Shares of the Company have not been and will not be registered under the U.S. Securities Act 1933, as amended or any state securities laws in the United States. This announcement has been prepared for publication in India and may not be released in the United States. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act.
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