Kataria Industries To Raise Rs 54 Crore Through SME IPO On NSE Emerge
Date
7/15/2024 2:17:20 PM
(MENAFN- KNN India)
New Delhi, Jul 15 (KNN) Ratlam-based Kataria Industries Ltd has announced the price band for its upcoming initial public offering (IPO) at Rs 91 to Rs 96 per share. The company aims to raise Rs 54.58 crore through this fresh issue of 5.685 million shares.
The IPO will open for public subscription from July 16 to July 19, with bidding for anchor investors commencing on July 15. The shares are slated to be listed on the NSE SME platform Emerge, with a tentative listing date of July 24.
The offering is structured with 50 per cent allocated to Qualified Institutional Buyers (QIBs), 35 per cent to retail investors, and 15 per cent to non-institutional investors.
Proceeds from the IPO are earmarked for capital expenditure on plant and machinery, debt repayment, and general corporate purposes.
Investors can participate with a minimum bid of 1,200 shares and in multiples thereof. Interactive Financial Services Ltd serves as the sole book-running lead manager, while Bigshare Services acts as the registrar for the issue.
Established in 2004, Kataria Industries operates two manufacturing facilities in Ratlam, Madhya Pradesh.
The company specialises in the production of Low Relaxation Pre-stressed Concrete (LRPC) Strands, Steel Wires, and Post-tensioning (PT) Anchorage Systems.
For the fiscal year 2023-24, Kataria Industries reported revenue of Rs 339.13 crore and EBITDA of Rs 22.93 crore.
This IPO marks a significant step for Kataria Industries as it seeks to expand its operations and strengthen its market position in the infrastructure materials sector.
(KNN Bureau)
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