The shares of leading apparel retailer Koutons rose by 24 per cent on debut at the Bombay Stock Exchange (BSE) selling today at Rs 515 a share from the issue price of Rs 415.
The shares were trading at Rs 616.20 this morning on the BSE after touching a high of Rs 649. The 3.5 million-share offer, which was managed by JM Financial Consultants and Karvy Investor Services, comprised a fresh issue of 2.6 million shares and 916,542 shares sold by the founders.
Koutons raised Rs 1.46 billion through the offer and plans to use the proceeds to set up a manufacturing unit and open retail outlets.
