Birla Cotsyn IPO - Analysis, Recommendation and Review

Birla Cotsyn, a company of the Yash Birla Group, engaged in textile manufacturing, will open for subscription today with an IPO of Rs 144.18 crores. The company has fixed a price band of Rs 15 to Rs 18 per equity share of face value of Rs 10 each. The company intends to raise Rs 144.18 crores at the cap price of the price band. The issue closes on Friday 04 July, 2008.

The proceeds from the issue will be utilized to set up a integrated textile unit and a garment manufacturing plant at their facilities located at Khamgaon, Ghatanji & Makkapur in Maharashtra. The invested will also fund the company’s foray into retail outlets which it plans to set up pan India.

This issue has been graded by CARE and has been assigned the "IPO Grade 3".

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