The Initial Public Offering (IPO) of Kalana Ispat has opened today i.e. 19th September. The IPO has a fixed price issue of Rs 32.59 crore. The issue is a fresh issue of 49.38 lakh shares. If you want to invest in it, then know the complete details about this IPO.
Kalana Ispat’s IPO will be open for subscription from September 19 to September 23. The IPO allotment status is expected to be finalized on September 24. After this, refund will be given to non-allottees and shares will be credited to the accounts of successful bidders on September 25.
Currently, the IPO listing has been scheduled for September 26. The shares will be listed on the NSE SME platform.
The price of Kalana Ispat’s IPO has been fixed at Rs 66/share. Retail investors can apply for a minimum lot size of 2,000 shares. This will result in a total investment of Rs 1,32,000. For High Net Worth Individuals (HNIs), the minimum investment is 2 lots or 4,000 shares, which will total Rs 2,64,000.
Skyline Financial Services Private is the registrar of the IPO. While Java Capital Services Private is acting as the book running lead manager of the IPO. The market maker for the IPO is Aftertrade Broking.
The grey market premium of Kalana Ispat was Rs 10 at 7:54 am on Thursday. This represents a gain of 15.15% over the IPO price. The estimated listing price based on GMP is Rs 76/share. GMP is not the official price quote for the stock, it is based on estimates.
company business
The company was started in October 2012. Kalana Ispat manufactures MS billets and alloy steel billets. The company operates in two primary segments – sale of products and sale of services. Its manufacturing facility has an annual production of 38,000 MT.
The company will use the proceeds from the IPO to set up 4 MW DC and 3.5 MW AC ground-mounted solar power plants under the TPSAT structure. The funds will be allocated to set up a rolling mill in Ahmedabad. This will include construction of an industrial shed and purchase of equipment and machinery.
Apart from this, a part of the funds will be used for general corporate purposes.
Financial performance of the company
Consolidated revenue from operations of Kalana Ispat stood at Rs 73.94 crore in FY24. It was Rs 83.35 crore in the previous financial year.
The company’s net profit in FY24 was Rs 2.36 crore. In the previous financial year, it was Rs 50 lakh.
