KP Group from Gujarat is coming up with an SME IPO; priced between Rs 137-144 per share!
core business can be categorized into manufacturing of fabricated and galvanized products, along with providing services such as fault rectification services, job work for galvanizing, and solar installation services.
Indian markets have surged to fresh record highs, propelled by buoyant sentiment on D-Street. Amid this fervor, the IPO market is ablaze, particularly in the SME segment, with approximately five IPOs slated to open for subscription in the forthcoming week.
One standout among these offerings is the KP Green Engineering Limited IPO, scheduled to open on March 15, 2024, and close on March 19, 2024. This SME IPO comprises 13,160,000 equity shares with a face value of Rs 5, amounting to Rs 189.50 crore. Priced between Rs 137 to Rs 144 per share, the minimum order quantity stands at 1000 shares.
The resonance of "KP" in KP Green Engineering likely strikes a chord for investors familiar with the success stories of KPI Energy and KP Energy, both multibagger stocks from the KP Group stable.
Established in 2001, KP Green Engineering specializes in the manufacturing of fabricated and hot-dip galvanized steel products. Its diverse portfolio encompasses lattice tower structures, substation structures, solar module mounting structures, cable trays, earthing strips, beam crash barriers, and other infrastructure solutions, all aligned with its motto: "A Company to Solve the Difficulties." With in-house fabrication and hot-dip galvanizing facilities, the company offers tailored solutions, handling engineering, designing, fabrication, galvanization, and deployment.
The company holds accreditation as a vendor with GETCO (Gujarat Energy Transmission Corporation Limited) and MSETCL (Maharashtra State Electricity Transmission Company) for capacities of up to 400 Kw and 220 Kw, respectively.
KP Green Engineering's core business can be categorized into manufacturing of fabricated and galvanized products, along with providing services such as fault rectification services, job work for galvanizing, and solar installation services.
Proceeds from the fresh issue will be channeled towards financing capital expenditure for setting up a new manufacturing unit, aimed at expanding production capabilities and diversifying the product portfolio. Additionally, funds will be allocated for general corporate purposes.
Beeline Capital Advisors Pvt Ltd serves as the book-running lead manager for the KP Green Engineering IPO, with Bigshare Services Pvt Ltd acting as the registrar of the issue.
Disclaimer: The article is for informational purposes only and not investment advice.