Unlisted shares of Kataria Industries Ltd are trading Rs 68 higher in the grey market, signalling a 70.83 per cent listing gain from the public issue.
Kataria Industries IPO: The initial public offering (IPO) of Kataria Industries Limited, which is going to be closed today, July 19, has received a decent response from investors. Till 10:40 am on the final day of bidding on Friday, July 19, the 52.56-crore IPO received a whopping 51.51 times subscription, garnering bids for 20,95,28,400 shares as against 40,67,400 shares on offer.
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The price band of the IPO has been fixed at Rs 91-Rs 96 apiece. The issue was opened for public subscription on July 16.
The retail quota received a 81.80 times subscription, while the non-institutional investors category got 49.64 times subscription. The qualified institutional buyers (QIB) category got a 49 per cent subscription.
Investors need to apply for a minimum of 1,200 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 1,15,200 [1,200 (lot size) x Rs 96 (upper price band)].
The Kataria Industries IPO allotment will likely be finalised on July 22, Monday; while its listing will take place on the NSE SME on July 24.
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Kataria Industries IPO GMP Today
According to market observers, unlisted shares of Kataria Industries Ltd are trading Rs 68 higher in the grey market as compared with its issue price. The Rs 68 grey market premium or GMP means the grey market is expecting a 70.83 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Kataria Industries IPO: More Details
The Kataria Industries IPO is entirely a fresh issue of 56.85 lakh shares. The price band is set at Rs 91 to Rs 96 per share.
Kataria Industries Ltd, established in 2004, manufactures and supplies low relaxation pre-stressed concrete (LRPC) strands and steel wires, post-tensioning (PT) anchorage system (anchor cone, anchor head, and wedges), HDPE single-wall corrugated (SWC) sheathing ducts, couplers, and aluminum conductors.
Kataria Industries Ltd’s revenue rose 2.26 per cent and its net profit incfreased 28.83 per cent during the financial year 2023-24.
Interactive Financial Services Ltd is the book running lead manager of the Kataria Industries IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
