Hyundai India gears up for IPO with...
12 Oct 2024
The SME IPO of Kataria Industries is now open for subscription, closing on July 19. The company aims to raise approximately Rs 54.58 crore through this IPO, with plans to list the shares on the NSE SME platform. Here are 10 essential details about the IPO:
The IPO consists entirely of a fresh equity issue of 56.85 lakh shares, aiming to raise Rs 54.58 crore.
Shares are offered at Rs 91-96 each, with a lot size of 1200 shares.
In the grey market, shares have a GMP of Rs 50, reflecting a 52% premium over the issue price.
Kataria Industries manufactures and supplies low relaxation pre-stressed concrete strands and steel wires, post-tensioning anchorage systems, HDPE single wall corrugated sheathing ducts, couplers, and aluminium conductors.
The engineering sector is the largest industrial sector in India, with 27% of the total factories and 63% of overall foreign collaborations.
For the year ended March 2024, the company reported total revenues of Rs 339 crore and a net profit of Rs 10.02 crore.
Funds will be used for capital expenditure on plant and machinery, debt repayment, and general corporate purposes.
Interactive Financial Services is the lead manager, and Bigshare Services is the registrar.
50% of the offer is reserved for qualified institutional investors, 35% for retail investors, and 15% for non-institutional investors.
The IPO runs from July 16 to July 19, with final allotment likely on July 22 and listing on July 24.
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