KP Green Engineering’s Rs 189 crore SME IPO to open on March 15

The SME Initial Public Offering (“IPO” or “Offer”) of the Company will open on Friday, March 15th, 2024, for subscription and close on Tuesday, March 19th, 2024.

Gujarat-based KP Green Engineering has fixed the price band of ₹137/- to ₹144/- per Equity Share of face value ₹5/- each for its maiden SME initial public offer.

The SME Initial Public Offering (“IPO” or “Offer”) of the Company will open on Friday, March 15th, 2024, for subscription and close on Tuesday, March 19th, 2024. Investors can bid for a minimum of 1000 Equity Shares and in multiples of 1000 Equity Shares thereafter.

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The issue consists of a fresh issue of up to 1,31,60,000 equity shares with “NO Offer for Sale” (OFS) – from promoter and promoter group.

The Issue is being made through the Book Building Process, wherein not more than 50% of the Net Issue shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Net Issue shall be available for allocation to Non-Institutional Investors and not less than 35% of the Net Issue shall be available for allocation to Retail Individual Bidders.

The overall project cost of the manufacturing facility is Rs. 174.04 crores. Out of the total net proceeds to be raised through the offer, the company proposes to utilise up to Rs 156.14 crores against the object “Part finance the capital expenditure towards setting up of a new manufacturing unit to expand its current production capabilities as well as expanding its current product portfolio”