(MENAFN- KNN India)
New Delhi, Jul 24 (KNN) Kataria Industries, a manufacturer of pre-stressed concrete strands and related products, made a notable debut on the National Stock Exchange's Small and Medium Enterprise (NSE SME) platform on Wednesday.
The company's shares opened at Rs 182.4, representing a 90 per cent premium over the initial public offering (IPO) issue price of Rs 96 per share.
The IPO, which comprised a fresh equity sale of 56.85 lakh shares, garnered significant investor interest, achieving an oversubscription rate exceeding 300 times.
This strong demand was primarily driven by non-institutional investors. Prior to the listing, shares of Kataria Industries were trading at a premium of Rs 105 in the unlisted market.
The company plans to utilise the net proceeds from the IPO for various purposes, including capital expenditure for plant and machinery, debt repayment, and general corporate requirements.
Kataria Industries specialises in the production and supply of low relaxation pre-stressed concrete (LRPC) strands, steel wires, post-tensioning (PT) anchorage systems, HDPE single wall corrugated (SWC) sheathing ducts, couplers, and aluminium conductors.
The company's product portfolio caters to diverse sectors such as infrastructure, transportation, construction, and power transmission.
Operating two manufacturing facilities in Ratlam, Madhya Pradesh, Kataria Industries has steadily expanded its production capacity.
In fiscal year 2020, the company increased its wire division capacity from 7,830 MT to 19,830 MT, followed by a further expansion to 38,000 MT in fiscal year 2022.
Over the past three years, Kataria Industries has established a market presence both domestically and internationally, with exports to countries including Dubai, Qatar, Nepal, Iran, Oman, Bahrain, and Brazil.
The company's listing comes at a time when India's engineering sector, which accounts for 27 per cent of the total factories in the industrial sector and 63 per cent of overall foreign collaborations, continues to play a significant role in the country's economic landscape.
(KNN Bureau)
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