Apparel maker Koutons Retail India is open for subscription with an initial public offer of 35.24 lakh equity shares in the band of Rs 370-415 a share. Public offer closes on September 21, 2007. The offer will constitute 11.54% of the post-issue capital.
The company is planning to raise at around Rs 130.39 crore to Rs 146.25 crore in lower and higher end of price band, respectively.
Proceeds will be utilised for setting up exclusive brand outlets of the company at the cost of Rs 41.2 crore, establishment of new integrated manufacturing facility (Rs 30.18 cr). The company is also going to purchase plant and machinery to increase finishing and manufacturing capacity (Rs 10 cr) and improve Information technology network (Rs 5.57 cr).
Koutons manufactures and retails of Men’s wear under brand name “Koutons” and “Charlie Outlaw” and has network of 674 exclusive brand outlets accross in India ( as on Feb 2007).
For the year ended March 2007, it has reported net sales of Rs 264.86 crore and profit after tax of Rs 23.96 crore.
JM Financial Consultant Pvt Ltd is the book running lead manager to the issue.
The company is planning to raise at around Rs 130.39 crore to Rs 146.25 crore in lower and higher end of price band, respectively.
Proceeds will be utilised for setting up exclusive brand outlets of the company at the cost of Rs 41.2 crore, establishment of new integrated manufacturing facility (Rs 30.18 cr). The company is also going to purchase plant and machinery to increase finishing and manufacturing capacity (Rs 10 cr) and improve Information technology network (Rs 5.57 cr).
Koutons manufactures and retails of Men’s wear under brand name “Koutons” and “Charlie Outlaw” and has network of 674 exclusive brand outlets accross in India ( as on Feb 2007).
For the year ended March 2007, it has reported net sales of Rs 264.86 crore and profit after tax of Rs 23.96 crore.
JM Financial Consultant Pvt Ltd is the book running lead manager to the issue.
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