Date:08/07/2008 URL: http://www.thehindu.com/2008/07/08/stories/2008070855231700.htm

Business - Briefly

Birla Cotsyn lowers IPO price band

MUMBAI: Textile major Birla Cotsyn (India) has lowered the price band for its initial public offering after it faced a marginal shortfall in subscription by retail investors, an investment banker associated with the sale said. The company has revised the price band range to Rs. 12-14 a share, from Rs. 15-18 a share. The issue, which was supposed to close on July 4, will now close on July 9.