KPR Mills diluting 15.69% Equity
Coimbatore Based KPR Mill, a vertically integrated apparel company, Sathyamangalam and Tirupur, has announced that the company is diluting 15.69% of its equity as it enters the capital market with an initial public offer, IPO of 5,912,100 equity shares.The company intends to offer the equity shares on a face value of Rs 10 each, for cash at a premium to be decided through the book-building process. The company has already filed the red herring prospectus with the Sebi, according to a release.
The company is raising funds to expand its garment and processing facilities, set up a new knitting facility and install windmills. The book running lead manager to the issue is Kotak Mahindra Capital Company and ICICI Securities is the co-book running lead manager.
