Koutons Retail IPO subscribed 45.21 times

Mumbai, Sep 21 (UNI) The Initial Public Offering (IPO) of Retail India Limited was subscribed 45.21 times at the close of the issue with the company receiving total bids for 159 million equity shares.

Koutons, which is an integrated apparel manufacturing and retail company in India, had entered the capital market with an offer of 3,524,439 equity shares of Rs 10 each.

The issue, which was held through 100 per cent book building process, had a price band of Rs 370-Rs 415 per equity share.

The Issue will constitute 11.54 per cent and net issue 11.37 per cent of the post-issue paid up capital of the company.

The proceeds will be used to fund the future expansion plans of the company which include setting up of the exclusive brand outlets, establishing a new integrated manufacturing facility, purchasing plant and machinery and the improvement of its existing information and technology network, said a press release.

J M Financial Consultants is the book running lead manager and Karvy Investor Services is the co-BRLM for the issue.

UNI