KPR Mill Ltd launched its initial public offering of 5,912,100 equity shares on Thursday. The price band of the 100% book building issue is fixed at Rs 225-265. The issue closes August 7.
At the lower price band, the company would raise Rs 133 crore and the upper price band it would raise Rs 156 crore. The issue would constitute 15.69% of the fully diluted post issue paid-up capital of the company.
KPR Mill, a vertically integrated apparel company, plans to use the 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.
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