Birla Cotsyn IPO opens for subscription

MUMBAI: Birla Cotsyn���s public issue of Rs 144.18 crore opened for subscription on Monday. The issue has a price band of Rs 15 to Rs 18 per equity share of Rs 10 each. The 100 per cent book-build issue closes on July 4.

The IPO proceeds would be utilized to set up an integrated textile unit and a garment manufacturing plant at the facilities located at Khamgaon, Ghatanji and Makkapur in Maharashtra. The investment would also fund the company's foray into retail outlets.

CARE has assigned Grade 3 to the IPO. Allbank Finance Limited is the book running lead manager to the issue.

The shares will be listed on BSE and NSE.