With Dalal Street set for a record IPO and trading week, all eyes are on KP Green Engineering, which will launch its IPO on March 15. In fact, KP Green Engineering's IPO is likely to be the biggest SME IPO issue the Indian stock market has ever seen.
KP Green Engineering's IPO starts on March 15 {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}}
KP Green Engineering is a manufacturer of fabricated and hot-dip galvanized steel products that will launch its IPO on Friday, March 15. The issue is open from Friday to Tuesday, i.e. from March 15th to 19th. The IPO will be launched for 1,31,60,000 shares of the company.
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A total of five IPOs in the SME (small and medium enterprises) segment are expected to make a splash on Dalal Street next week, with KP Green Engineering being by far the largest.
While the remaining four SME companies are jointly seeking an increase ₹107 crore, KP Green Engineering aims to raise through its public issue ₹189.5 crore through the IPO, in the upper price segment. The IPO consists of a new issue only and no offer-to-sale component.
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Previously, Spectrum Talent Management was the largest SME IPO ever to take place on the Indian Stock Exchange and eventually managed to rise ₹105 crore. Previously, it was Aashka Hospitals that ultimately collected donations ₹101.6 crore.
KP Green Engineering IPO: More details
KP Green Engineering's IPO is scheduled to open on March 15 and subscription will close on March 19. The aim is to increase capital through the IPO of the new issue ₹189.5 crore by selling 1,31,60,000 shares of the company.
KP Green Engineering has set the price range of the issue ₹137-144 per share. Around 6.58 lakh shares are reserved for the market maker while half of the issue size is reserved for qualified institutional buyers.
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The company announced in its most recent filings that it would spend money ₹156.1 crore of the total money raised will be used for setting up a new manufacturing unit while the rest of the funds will be used for general corporate purposes.
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