Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
The initial public offerings of Kataria Industries and Macobs Technologies received an overwhelming response from investors, both reporting high subscription rates on July 19, the final day of bidding.
Kataria Industries, a manufacturer of low relaxation pre-stressed concrete (LRPC) strands and steel wires, saw its public issue subscribed 365.92 times. Investors bought 148.83 crore equity shares against an offer size of 40.67 lakh shares.
Non-institutional investors (high networth individuals) led the way, buying 969.8 times the portion set aside for them. Retail investors and qualified institutional buyers bid 274.4 times and 171.06 times the allotted quotas, respectively.
The Madhya Pradesh-based company launched its Rs 54.58-crore public issue on July 16, with a price band of Rs 91-96 per share. It raised Rs 15.53 crore from four anchor investors, including AG Dynamic Funds and North Star Opportunities Fund VCC-Bull Value Incorporated VCC Sub-Fund, at Rs 96 per share. The funds will be used primarily for capital expenditure, debt repayment, and general corporate purposes.
Kataria Industries, with two manufacturing plants in Madhya Pradesh, supplies products to sectors such as infrastructure, roads, metros, railways, high-rise buildings, atomic reactors, LNG tanks, and power transmission & distribution lines.
The Rs 19.46-crore IPO of Macobs Technologies, a men's grooming products company, was subscribed 183.17 times on its final day. Investors bid for 40.89 crore equity shares against an IPO size of 21.52 lakh shares, according to NSE data.
Non-institutional investors led with 622.64 times the reserved portion, while retail investors bid 176.87 times and QIBs picked 33.4 times their allotted portions.
Before the issue opened on July 16, the Rajasthan-based company raised Rs 3.32 crore from three anchor investors at the upper end of the price band of Rs 71-75 per share. Foreign portfolio investors NAV Capital VCC – NAV Capital Emerging Star Fund and Astorne Capital VCC – Arven each bought 1.47 lakh shares, while J4S Venture Fund – I picked 1.47 lakh shares.
Macobs will use the proceeds for customer acquisition through marketing and awareness, debt repayment, working capital, and general corporate purposes.
Both companies will finalize the basis of allotment on July 22, credit shares to demat accounts of successful investors by July 23, and start trading on NSE Emerge on July 24.
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