Business Daily from THE HINDU group of publications
Friday, Oct 13, 2006
ePaper
Business Daily from THE HINDU group of publications Friday, Oct 13, 2006 ePaper |
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Markets
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IPOs Our Bureau
Mumbai , Oct. 12 Richa Knits on Thursday listed at Rs 30.95, a premium of 3.16 per cent over the issue price of Rs 30, on the BSE. The stock hit an intra-day high of Rs 40 before closing at Rs 30.25. Around two crore shares were traded. The Gurgaon-based knitted fabric and readymade garments manufacturer had entered the capital market with a public issue of 90 lakh equity shares of Rs 10 each for cash at a premium of Rs 20 per share (issue price of Rs 30 per share) aggregating Rs 27 crore. RKL is into knitting and dyeing/processing of knitted fabric and also has a presence in the readymade garments segment. RKL currently earns 80 per cent of its revenues from the domestic market. The issue will part-finance the expansion of its existing facility for knitting, dyeing, processing and garment manufacturing. The issue comprised promoter participation of 15 lakh equity shares at Rs 30 per share, 7.50 lakh equity shares for qualified institutional buyers (QIBs), 7.50 lakh equity shares for NRIs and FIIs and reserved 3.75 lakh equity shares for employees. The net issue to the public was 56.25 lakh shares. The offer opened for subscription on September 13 and closed on September 19. KJMC Global Market (India) Ltd was the sole lead manager to the issue.
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