The Hindu Business Line : KPR lists at 10.5% discount against IPO price

Mumbai, Aug. 28 KPR Mill Ltd, a Tamil Nadu-based apparel company, made its debut on the BSE at a discount of 10.57 per cent against the issue price of Rs 225 at Rs 201.20. On the NSE, it opened at a discount of 22.22 per cent against the offer price of Rs 225 at Rs 175.

The stock witnessed a high of Rs 209.80 and a low of Rs 169.10 before closing at Rs 173.50 on the BSE, whereas on the NSE, it went up to a high of Rs 200 and a low of Rs 169.15 before closing at Rs 174.20.

Quantity traded on the BSE and the NSE was 49,21,757 shares and 53,43,469 shares. The company had raised around Rs 133 crore from its initial public offering of 59,12,100 equity shares of Rs 10 each at Rs 225 per share. The price band was Rs 225-265.

K.P.R Mill Ltd plans to use the money to expand its spinning, garment, processing facility and set up a knitting plant in Tamil Nadu.

KPR recently made a pre-IPO placement of Rs 105 crore with Blue River Capital, Brandot International and Argonaut Private Equity.

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KPR lists at 10.5% discount against IPO price