Comments on: Kaveri Seed eyes up to Rs 68 cr in IPO http://birlaa.com/2007/08/31/kaveri-seed-eyes-up-to-rs-68-cr-in-ipo/ Indian Stock Market Tue, 06 Jan 2009 12:05:48 +0000 http://wordpress.org/?v=2.2 By: Kaveri Seed IPO receives 33% subscription on day one Secunderabad-based Kaveri Seed (KSCL), maker of agriculture inputs, received 33% subscription for its initial public offer (IPO) on first day of issue. The IPO received 1,315,240 bids as against the http://birlaa.com/2007/08/31/kaveri-seed-eyes-up-to-rs-68-cr-in-ipo/#comment-39 Kaveri Seed IPO receives 33% subscription on day one Secunderabad-based Kaveri Seed (KSCL), maker of agriculture inputs, received 33% subscription for its initial public offer (IPO) on first day of issue. The IPO received 1,315,240 bids as against the Thu, 06 Sep 2007 18:57:38 +0000 http://birlaa.com/2007/08/31/kaveri-seed-eyes-up-to-rs-68-cr-in-ipo/#comment-39 Kaveri Seed IPO receives 33% subscription on day one Secunderabad-based Kaveri Seed (KSCL), maker of agriculture inputs, received 33% subscription for its initial public offer (IPO) on first day of issue. The IPO received 1,315,240 bids as against the issue size of 4,000,000 shares. A total of 9,360 bids were received at cut off price. KSCL intends to deploy the issue proceeds in expansion plans worth Rs 632.97 million. It includes setting up of marketing offices and godowns, corn cob drying plants, biotechnology lab, and seed processing plant. In addition, KSCL plans to acquire farmland for R&D facilities, upgradation of existing seed processing plants and meeting the working capital requirements. The benefits of these plans are expected to contribute to the financials of KSCL from November 2008 onwards. Incorporated in 1986, Kaveri Seed is engaged in the business of production, processing and marketing of high quality hybrid seeds for different crops like corn, sunflower, cotton, paddy, grain sorghum, etc. Recently, the company forayed into micronutrients and bio-products. In addition, the company produces non-hybrid seeds. The production, processing and R&D facilities are located in Andhra Pradesh and Karnataka. Kaveri Seed IPO receives 33% subscription on day one

Secunderabad-based Kaveri Seed (KSCL), maker of agriculture inputs, received 33% subscription for its initial public offer (IPO) on first day of issue. The IPO received 1,315,240 bids as against the issue size of 4,000,000 shares. A total of 9,360 bids were received at cut off price.

KSCL intends to deploy the issue proceeds in expansion plans worth Rs 632.97 million. It includes setting up of marketing offices and godowns, corn cob drying plants, biotechnology lab, and seed processing plant.

In addition, KSCL plans to acquire farmland for R&D facilities, upgradation of existing seed processing plants and meeting the working capital requirements. The benefits of these plans are expected to contribute to the financials of KSCL from November 2008 onwards.

Incorporated in 1986, Kaveri Seed is engaged in the business of production, processing and marketing of high quality hybrid seeds for different crops like corn, sunflower, cotton, paddy, grain sorghum, etc. Recently, the company forayed into micronutrients and bio-products. In addition, the company produces non-hybrid seeds. The production, processing and R&D facilities are located in Andhra Pradesh and Karnataka.

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