KP Green Engineering’s SME IPO subscribed 27.5 times on final day

The issue received bids of 25,88,46,000 shares against the offered 94,10,000 equity shares, at a price band of ₹137-144, according to the data available on the stock exchange.

The SME Initial Public Offering of KP Green Engineering Limited was subscribed 27.51 times on the final day of bidding.

The issue received bids of 25,88,46,000 shares against the offered 94,10,000 equity shares, at a price band of ₹137-144, according to the data available on the stock exchange.

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Non-Institutional Investors Portion and Qualified Institutional Buyer Portion was subscribed 35.96 times and 31.86 times respectively, whereas Retail Portion was subscribed 20.12 times.

Beeline Capital Advisors Private Limited is the sole book-running lead manager. The equity shares are proposed to be listed on the BSE SME Platform.

KP Green Engineering Limited, a flagship company of KP Group, established by Dr. Farukbhai Gulambhai Patel, -. in 1994, KP Group has completed more than 25 years of its successful operations. The company has more than 30+ entities in its fold throughout India for organizational growth. KP Group also has more than 15+ years of experience in renewable energy sector.

Founded in 2001, the company specialized in manufacturing hot-dip galvanized steel items. Its extensive product range includes lattice tower structures, substation structures, solar module mounting structures, cable trays, earthing strips, beam crash barriers, and other infrastructure solutions.  Additionally, it offers Fault Rectification Services (FRT) for optical fiber cables, galvanizing job work, and solar installation services.

With in-house fabrication and hot dip galvanizing facilities, KP Green Engineering offers one stop solutions of engineering, designing, galvanization, and deployment processes seamlessly with focused approach on renewable energy segment. Currently it operates from its manufacturing facility at Dabhasa, Vadodara, Gujarat, spread across 2lac sq. ft and has an installed capacity of 53,000MT per annum.