Kiri Dyes debuts with 22.67% premium

Kiri Dyes & Chemicals, manufacturer of reactive dyes also known as Synthetic Organic and Dye Intermediates, has listed at Rs 184 on the NSE, a a premium of 22.67% over its issue price of Rs 150.

At 9.56 am, the share was trading at Rs 193. The total traded quantity was 2,31,173 shares and the turnover was Rs 458.39 lakh. It has touched an intraday high Rs 228.70 and an intraday low of Rs 184.

The stock opened at Rs 151 on the BSE. It was quoting at Rs 198.10. Its intraday high was at Rs 204 and intraday low at Rs 151.

The company had entered capital market with its IPO of 37,50,000 equity shares of Rs 10 for cash at a price determined through 100% book building process. The initial public offering was subscribed 1.43 times.

The issue raised funds for executing its backward integration project for manufacturing three key raw materials for dye intermediates.