Kalana Ispat IPO: Important Details of Upcoming IPO

1. Kalana Ispat IPO is a fixed-price issue worth up to Rs 32.59 crores.
2. Bidding opens on September 19 and closes on September 23, 2024.
3. Kalana Ispat SME IPO price is set at Rs 66 per share.
4. The minimum amount required for retail investors is Rs 1,32,000.

Kalana Ispat IPO: Synopsis

Kalana Ispat is open for subscription from Thursday, September 19, 2024, and closes on Monday, September 23, 2024. The price for this IPO is set at Rs 66 per share.

Kalana Ispat IPO is offering entirely a fresh issue of 49.38 lakh equity shares worth up to Rs 32.59 crore.

The allotment for this new IPO is expected to be finalised on Tuesday, September 24, 2024. The listing of this IPO will be done on Thursday, September 26, 2024, at NSE SME segment.

The minimum lot size set for the retail category is 1 lot, i.e., 2000 shares. For retail investors, the minimum and maximum investment amount required is Rs 132,000. However, for the HNI category, the minimum lot size is 2 lots, i.e., 4000 shares amounting to Rs 264,000.

The IPO is managed by Jawa Capital Services Private Limited, which is the book-running lead manager of this public issue. The company has appointed Skyline Financial Services Private Limited as the registrar for the issue.

Also Read | WOL 3D India IPO: Unlocking the IPO in Detail

Kalana Ispat Limited: About the Company

Kalana Ispat Limited was incorporated in the year 2012 in October. It is an M.S. Billets, and Alloy Steel Billets manufacturer with several grades. The company conducts its business through two business segments which are sales of product and sales of services. The manufacturing unit in the company is ISO 2830:2012 certified as part of a quality management system. The annual production capacity of this manufacturing facility is 38,000 MT.

The business model of the company is innovation-focused, and its history has been consistent with scalable and profitable growth; the promoters are experienced, and the relationship with customers is strong. Kalana Ispat has approximately 15 employees as of September 2024, supported by employees as required.

Kalana Ispat IPO: Objectives

The company intends to utilise the funding received from the fresh issue for various purposes, including capital expenditure for the installation of a 4 MW DC and 3.5 MW AC ground-mounted solar power plant with a TPSAT structure, capital expenditure for setting up a rolling mill at Survey No. 4/1, Taluka Sanand, Mouje Kala village, Ahmedabad, including the construction of an industrial shed, purchase of equipment and machinery, and acquisition of other assets, along with addressing general corporate purposes.

Kalana Ispat IPO: Other Important Details

Time Table of Kalana Ispat IPO

Kalana Ispat IPO: Financial Metrics (Amt in Rs Lakhs)

Minimum Investment: Lot Size Details

Promoters of Kalana Ispat Limited and Their Holdings

The company's promoters are Mr Aftabhusen S Khandwawala, Mr Varghese Joseph Pottakerry, Mr Gurubaxsing Jamiatsing Bagga and Mr Sadik Nannabhai Qureshi. They collectively hold 82.72% of the company's shares. However, post-IPO, their shareholding will be 51.38%.

FAQs

1. What are the core details available for the Kalana Ispat IPO?

Kalana Ispat IPO is a Fixed-price public issue of 49.38 lakh equity shares. This upcoming IPO is offering entirely a fresh issue of 49.38 lakh equity shares. The allotment for this new IPO is expected to be finalised on Tuesday, September 24, 2024.

2. How can I apply for the Kalana Ispat IPO?

The public subscription of this new IPO opens on September 19 and closes on September 23, 2024. Click here to initiate the application process.

3. Who is the lead manager(s) for the Kalana Ispat IPO?

Jawa Capital Services Private Limited is appointed as the book-running lead manager for the IPO.

4. Who is appointed as the registrar for Kalana Ispat IPO?

Skyline Financial Services Private Limited has been appointed as the registrar for this public issue.

5. How can I check the allotment status of the IPO?

Investors who applied for an IPO can check the allotment status of the Kalana Ispat IPO by visiting here, for further updates, follow Bigul.

Also Read | Phoenix Overseas IPO: Important Details of IPO