KPR Mill, a Tamil Nadu-based apparel company, was listed on the BSE at Rs 201.20 - a discount of 10.57% to its issue price of Rs 225.The shares droped to a low of Rs 180.55, and over 15 lakh shares had changed hands on the BSE.The company had come out with an initial public offering (IPO) of over 3.76 crore equity shares at Rs 225 per share.The proceeds of the issue would be utilised for expansion of its garment unit at Arasur in Coimbatore, setting up a design studio, construct a hostel at Arasur and construct new facilities to increase capacity.KPR Mill had also made a pre-IPO placement of Rs 105 crore with Blue River Capital, Brandot International and Argonaut Private Equity.
