Kiri Dyes & Chemicals to list on April 22

Kiri Dyes & Chemicals, manufacturer of reactive dyes also known as Synthetic Organic and Dye Intermediates will list on the bourses with its equity shares on April 22, 2008.

It has been fixed the issue price at Rs 150 per equity share for 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, as per NSE website. Reserved portion of retail investors was subscribed 2.38 times followed by qualified and non institutional buyers' portion subscribed by 0.79 times and 1.36 times, respectively.

The issue raised funds for executing its backward integration project for manufacturing three key raw materials for dye intermediates. The book running lead manager to the issue is Centrum Capital.