Kiri Dyes and Chemicals will list on the stock exchanges on Tuesday, 22 April 2008. The stock will be placed in the B group on BSE.The company had fixed the issue price at the top end of the Rs 125 - Rs 150 IPO price band.
The IPO price Rs 150 discounts the year ended March 2007 EPS of Rs by a PE multiple of 25.86.
The initial public offering (IPO) of Kiri Dyes and Chemicals which ended on 2 April 2008, was subscribed 1.43 times on the last day of its issue. The IPO received bids for 53.64 lakh shares as against 37.5 lakh shares on offer.
The qualified institutional buyers (QIBs) portion was subscribed 0.78 times, the non institutional investors portion was subscribed 1.35 times and the retail investors portion was subscribed 2.38 times.
Kiri Dyes and Chemicals manufactures reactive dyes and dye intermediates. Its production plant is located in Gujarat: three units in Ahmedabad and one unit in Vadodara.
The company aims to utilise the IPO proceeds on its backward integration project for manufacturing three key raw materials for dye intermediates.
Kiri Dyes and Chemicals reported profit after tax of Rs 8.63 crore on sales of Rs 133.76 crore in the year ended March 2007.
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