Koutons Retail closes over 40% on listing

MUMBAI: Shares of Koutons Retail ended its first day of trading at Rs 584, up 40.70 per cent, on the National Stock Exchange. The stock touched an intra-day high of Rs 620 and low of Rs 502.50. Around 81,49,741 shares were traded in the counter. On the Bombay Stock Exchange, it closed at Rs 590.45, up 42.27 per cent. It touched a high of Rs 649 and low of Rs 515 with 4167052 shares changing hands.

Koutons Retail is an integrated apparel manufacturer and retailer with a network of 999 exclusive brand outlets across India. The company raised Rs 146.25 crore from its IPO of 35,24,439 shares, which was subscribed 45.52 times. The company raised the funds for setting up 140 exclusive outlets for ‘Koutons’ and ‘Charlie Outlaw’ brands, and for a new integrated manufacturing facility at Gurgaon, Haryana.