The IPO of Birla Cotsyn was subscribed 0.44 times on Monday. The issue received 3,95,64,350 bids, out of which around 2,06,87,100 were at the cut off price. The qualified institutional buyers' portion was subscribed 0.01 times, non-institutional investor portion was subscribed 1.46 times, the retail portion was subscribed 0.90 times and the employee's portion was subscribed 0.02 times.
The company has extended the closing date of its initial public offer to July 9. Also it has revised its price band downward from Rs 15-Rs 18 to Rs 12-Rs 14 per share.
The company plans to utilize the IPO proceeds to set up an integrated textile unit and a garment manufacturing plant at the facilities located at Khamgaon, Ghatanji and Makkapur in Maharashtra. Also to fund the company's foray into retail outlets.
The company has extended the closing date of its initial public offer to July 9. Also it has revised its price band downward from Rs 15-Rs 18 to Rs 12-Rs 14 per share.
The company plans to utilize the IPO proceeds to set up an integrated textile unit and a garment manufacturing plant at the facilities located at Khamgaon, Ghatanji and Makkapur in Maharashtra. Also to fund the company's foray into retail outlets.
