TAKE Solutions, KPR Mill IPOs close today

MUMBAI: The initial public offerings of TAKE Solutions and KPR Mill close Tuesday. TAKE Solutions issue was subscribed 3.35 times until 5pm Monday, according to information available on the NSE website. It received 70,44,750 bids for issue size of 21,00,000 shares. Around 3,54,528 bids were made at cut-off price. The price band of the 100% book building issue is Rs 675-730 per share.

Qualified institutional buyers subscribed the portion allotted to them 5.23 times. Non-institutional investors subscribed 1.93 times the number of shares reserved for them and retail investors’ portion was subscribed 0.5 times.

KPR Mill IPO was subscribed 0.73 times, as per the NSE website. QIB portion was subscribed 0.99 times. The portion allotted to non institutional investors was subscribed 1.14 times and retail investor portion subscribed 0.06 times.

The price band of KPR Mill issue is Rs 225-265. At the lower price band, the company would raise Rs 133 crore and the upper price band it would raise Rs 156 crore.

TAKE Solutions focuses on life sciences and supply chain management solutions. The company plans to use the IPO proceeds for acquisition of companies, businesses and products. It will also repay the debt utilised to acquire ClearOrbit Inc of US, a supply chain execution and collaborative supply management solutions provider.

KPR Mill, a vertically integrated apparel company, plans to use the IPO proceeds to fund expansion of existing garment facility at Arasur, Coimbatore; setting up a design studio, construction of an additional hostel facility at Arasur, expansion of processing facility at State Industries Promotion Corporation of Tamil Nadu, Perundurai, investment in a new knitting facility at Arasur, addition of balancing equipments for existing spinning facility at Sathyamangalam.