Birla Cotsyn - Listed at discount

Birla Cotsyn, a Yash Birla group company, today closed at a discount of 32.5 per cent at Rs 9.45 from its opening price of Rs 14.90 on the NSE on the day one of the listing. The issue price of the scrip was Rs 14. The listing price was also its intra-day high the scrip touched and it also touched an intra-day low of Rs 8.75. On the BSE, too, the scrip closed down at Rs 9.2 from its opening price of Rs 14.70. It touched an intra-day high of Rs 17.50 and a low of Rs 8.55. The company raised close to Rs 125 crore through its recent IPO. The company plans to utilise these funds to set up an integrated textile unit and a garment manufacturing plant at its existing facilities in Maharashtra and also for its opening of retail outlets, which it plans to set up across the country.