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KPR Mills to list on the bourses today

Tuesday, August 28, 2007

KPR Mill, a vertically integrated apparel company with operations located at Coimbatore, Sathyamangalam and Tirupur in Tamil Nadu, will list on the bourses today. The offer price has been fixed at Rs 225 per share. The company had raised around Rs 133 crore from its initial public offering (IPO) of 5,912,100 equity shares of Rs 10 each at Rs 225 per share, a higher end of the price band of Rs 225-265. The issue was subscribed 1.19 times.

The book running lead manager to the issue is Kotak Mahindra Capital Company Ltd. and Co-Book Running Lead Manager is ICICI Securities Ltd.

The company proposes to utilize the net proceeds of the issue to fund plans for expansion of the existing garment facility at Arasur, near Coimbatore; setting up a design studio at Arasur; construction of an additional hostel facility at Arasur; expansion of the processing facility at State Industries Promotion Corporation of Tamil Nadu Limited ("SIPCOT"), Perundurai; investment in a new knitting facility at Arasur; addition of balancing equipments for existing spinning facility at Sathyamangalam and general corporate purposes.

Posted by FR at 9:08 AM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.