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Mumbai, July 26 The Coimbatore-based KPR Mill Ltd, a vertically integrated apparel company, announced its entry in to the capital markets by an initial public offering of 59,12,100 equity shares of face value Rs 10 each through a 100 per cent book building process. The company plans to raise Rs 133-157 crore from the issue.

“We plan utilise the proceeds from the issue for expansion of our garment facility, setting up of a design studio, a new knitting facility at Arasur and other purposes,” said Mr P. Natraj, Managing Director, KPR Mill.

The issue will open on August 2 and the price band has been fixed at Rs 225-265 per share.

The book-running lead manager to the issue is Kotak Mahindra Capital Company Ltd and ICICI Securities Ltd is the co-book running lead manager.

The Arasur facility is to become fully functional by end of fiscal 2008, which will expand the company’s apparel manufacturing business with an initial capacity of 25.90 million pieces per year, said the company release.

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