Koutons Retail debuts with 23 pc premium

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Mumbai, Oct 12 (UNI) Apparel retailer Koutons Retail India has started the day at Rs 510.05, with 23 per cent gain over its issue price of Rs 415 and touched a high of Rs 620 in the morning trade despite negative sentiment in the indian bources. Listing was as per analysts expectations, they were expecting above Rs 500.

The share was trading at Rs 605, up 45.78 pc, with volumes of 17,66,447 shares on the National Stock Exchange. The turnover was at Rs 105.07 crore, brokers said.

At the current price of Rs 610, the Personal Earning (PE) multiple works out to 53.98, based on the year ended March 2007 EPS of Rs 11.3.

On the Bombay Stock Exchange, it was quoting at Rs 604, with volumes of 6,14,802 shares. It has touched a high of Rs 649 and a low of Rs 515.

The 3.5 million-share offer, which comprised a fresh issue of 2.6 million shares and 916,542 shares sold by the founders, was subscribed 45.52 times. The shares were offered in a price band of Rs 370-415 per share.

Koutons has raised Rs 1.46 billion through the offer and plans to use the money to build a new manufacturing unit and set up retail outlets, brokers added.

UNI

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