Birla Cotsyn IPO was oversubscribed on the last day. Its IPO received a very good response from the investors. The IPO was subscribed 1.11 times.
The money received from the IPO would be used partly to fund the company’s foray into retail outlets.
The remaining amount of money from IPO proceeds would be used to set up an integrated textile unit and a garment manufacturing plant.
This textile unit & manufacturing plant would come at the existing facilities located at Khamgaon, Ghatanji and Makkapur in Maharashtra.