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MUMBAI: Piramyd Retail has fixed the issue price of its IPO at Rs 120 per share. The IPO was subscribed 11.62 times. The company entered the capital market with an initial public offering of 90 lakh shares at a price band of Rs 120 to Rs 140. The issue closed on November 16.

The company intends to deploy the net proceeds from the issue of shares for funding capital expenditure, upgradation of IT infrastructure and repayment of bridge loans.

(This article was published in the Business Line print edition dated November 19, 2005)
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