Bombay Stock Exchange has announced that effective from Thursday, October 4, 2007 the equity shares of Kaveri Seed Company Limited (Scrip Code: 532899) shall be listed and admitted to dealings on the Exchange in the list of B1 Group.

The price band of 100 per cent book building issue was fixed at Rs 150-170 per share. At the lower price band, the company will raise Rs 60 crore and Rs 68 crore at the cap price.

The company will offer a net public issue of 38 lakh shares. The net issue will constitute 29.20 per cent of the fully diluted post issue paid-up capital of the company.

The company is into the business of research, production, processing and marketing of high quality hybrid seeds for crops like corn, sunflower, cotton, pearlmillet, paddy, grain and sorghum and has recently forayed into micronutrients and bioproducts.

The company’s net profit rose to Rs 2.93 crore in 2005-06 (Apr-Mar) from Rs 13.41 lakh in 2002-03. Total income has gone up to Rs 49.72 lakh from Rs 23.64 lakh in the same period.

Kaveri plans to use the IPO proceeds to acquire farmland for research & development near Hyderabad, Alwar and Ahmedabad, set up marketing offices and godowns in Delhi, Lucknow, Jaipur, Ahmedabad, and Aurangabad, corn cobdrying plants in Andhra Pradesh and Karnataka, biotechnology lab near Hyderabad, upgradation of existing seed processing plants at Kandalkoi, Gundla, Pochampally, Gatla, Narsingapur and Bellary, processing plant near Hyderabad.

Anand Rathi Securities, Sobhagya Capital Options and SREI Capital Markets are the book running lead managers for the issue.