Initial Public Offering (IPO) of Kaka Industries generated positive subscriptions on the first day with strong demand from retail investors. IPO of Kaka Industries was subscribed by 19.23 times so far on July 10, the first day of bidding.
The IPO received 33.63 times subscriptions from the retail category, 0.06 times from Qualified Institutional Buyers’ (QIB), 11.21 times by the Non-Institutional Investors (NII) till 5:00 pm on day 1. The Kaka Industries IPO worth Rs 21.23 crore commenced for subscription on July 110 and will conclude on July 12.
Kaka Industries are prominent manufacturers in polymer-based profiles for use in partitions, false ceilings, wall paneling, kitchen cabinets, doors, windows and other interior and exterior works.
The price range for the IPO is set at Rs 55 to Rs 58 per equity share. It is an SME IPO that consists of 3,660,000 equity shares of the face value of Rs 10 that aggregates up to Rs 21.23 crore. The lot size of the IPO is 2,000 shares.
Kaka Industries in its filing said that the basis of allotment of shares will be finished on July 17 and initiation of refunds will start from July 18, while the shares will be credited to Demat accounts of the allotees on July 19.
The shares of Kaka Industries are likely to be listed on BSE SME on Thursday, July 20.
Bigshare Services Pvt Ltd serves as the registrar of the IPO whereas lead manager is Hem Securities Ltd.
