Kiri Dyes and Chemicals IPO opens for subscription
The initial public offer of 37.5 lakh equity shares of Kiri Dyes and Chemicals opens for subscription on Tuesday. The company has fixed a price band of Rs 125-Rs 150 per share.
By INDIATIMES NEWS NETWORK |
MUMBAI: The initial public offer of 37.5 lakh equity shares of Kiri Dyes and Chemicals opens for subscription on Tuesday. The company has fixed a price band of Rs 125-Rs 150 per share.
The issue constitutes 25 per cent of fully diluted post issue paid up capital. The issue closes April 2.
The company has made pre-IPO placement of 12,50,000 equity shares comprising 1,31,140 shares at Rs 120 and 11,18,860 shares at Rs 115 per share. CRISIL has assigned IPO Grade "2/5".
The company plans to utilize the IPO proceeds to fund 1) a plant to manufacture sulphuric acid, oleum and chloro sulphonic acid with a combined capacity of 500 MT per day adjacent to its existing unit in Vadodara (2) dyes and intermediates unit in Ahmedabad and (3) additional working capital margin.
The book running lead manager to the issue is Centrum Capital.
The shares will be listed on Bombay Stock Exchange and National Stock Exchange of India.
The issue constitutes 25 per cent of fully diluted post issue paid up capital. The issue closes April 2.
The company has made pre-IPO placement of 12,50,000 equity shares comprising 1,31,140 shares at Rs 120 and 11,18,860 shares at Rs 115 per share. CRISIL has assigned IPO Grade "2/5".
The company plans to utilize the IPO proceeds to fund 1) a plant to manufacture sulphuric acid, oleum and chloro sulphonic acid with a combined capacity of 500 MT per day adjacent to its existing unit in Vadodara (2) dyes and intermediates unit in Ahmedabad and (3) additional working capital margin.
The book running lead manager to the issue is Centrum Capital.
The shares will be listed on Bombay Stock Exchange and National Stock Exchange of India.
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