The 30-share BSE Sensex was down 53.76 points, or 0.36%, to 14804.02 after data showing unsold US homes reached a near 16-year high in July 2007, which stoked concern about the mortgage sector and US consumer spending.

On BSE, 4.89 lakh shares of the scrip were traded. The stock debuted at Rs 201.20, a discount of 10.57% over the IPO price. It hit a high of Rs 209.80 and a low of Rs 181.15, so far during the day.

At the current price of Rs 193, the PE multiple works out to 12.45, based on the year ended March 2007 EPS of Rs 15.5

The company has fixed the IPO price at the lower end of the Rs 225-265 price band. The IPO had ended on 7 August 2007 with 1.19 times subscription.

The qualified institutional buyers (QIBs) category was subscribed 1.44 times, the non institutional investors category was subscribed 2.07 times, the retail investors category was subscribed 6.17 times.

K P R Mill is a vertically integrated apparel company. It plans to deploy the IPO proceeds to fund expansion of existing garment facility at Arasur, Coimbatore.

During the year ended 31 March 2007, the company exported 99.86% of its readymade knitted apparel directly to international clients and has more than 1000 regular domestic clients for yarn and fabric.

K P R Mill reported a net profit of Rs 58.42 crore on sales of Rs 481.62 crore in the year ended March 2007.