KP Green Engineering Ltd has announced its initial public offering. The steel product manufacturer KP Green is set to open an application for its IPO on 15 March 2024. Interested investors can check the IPO details related to KP Green Engineering IPO here.
KP Green Engineering IPO Date
KP Green Engineering will open the IPO for application on 15 March 2024 and wrap it up on 19 March 2024. The KP Green SME IPO is expected to be allotted on 20 March 2024.
Investors who have subscribed but haven’t received the shares after the IPO allotment can expect the refund initiation on 21 March 2024.
The KP Green Engineering IPO will be listed on BSE SME on the tentative date of 22 March 2024.
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Interested investors can mark the following key dates of the KP Green Engineering IPO on their calendars:
| Date | KP Green Engineering IPO Activity |
| 15 March 2024 | IPO Opening Date |
| 19 March 2024 | IPO Closing date |
| 20 March 2024 | Allotment of IPO |
| 21 March 2024 | Refund Initiation |
| 22 March 2024 | Listing Date |
| 19 March 2024 | UPI mandates confirmation cut-off time. |
KP Green Engineering IPO Details
The KP Green Engineering aims the following objective to achieve with its IPO:
- To cover the finance and capital expenditure to set up a new manufacturing unit to expand the capabilities of production and expand the product portfolio.
- To cover other corporate purposes for the betterment of the company.
The upcoming issue will be a fresh issue of 1,31,60,000 equity shares. KP Green Engineering plans to raise ₹189.50 crores through the issue.
The price band set for the KP Green Engineering IPO is ₹137 to ₹144 per equity share with a face value of ₹5 per share.
The minimum lot size of the KP Green Engineering IPO consists of 1000 shares, which amounts to ₹144,000 for the investors.
The registrar of the KP Green Engineering IPO issue is Bigshare Services Pvt Ltd. and the book-running lead manager of the IPO is Beeline Capital Advisors Pvt Ltd.
Spread X securities, the market maker of KP Green Engineering holds 658,000 shares.
Mr. Hassan Faruk Patel and Dr. Farukbai Gulambhai, promoters of the company hold 90.37% of shares pre-issue, which will be diluted after the IPO and they will hold 66.59% shares post-issue.
| Company Name | KP Green Engineering |
| IPO Total Size | 131.6 lakh shares (matches up to ₹189.50 crores) |
| Issue type | Book Built Issue |
| Lot Size | 1000 shares |
| Price | ₹137 to ₹144 per equity share |
| Face Value | ₹5 per share |
| Fresh issue size | 131.6 lakh shares (matches up to ₹189.50 crores) |
| OFS | NIL |
| Listing at | BSE SME |
| Market Maker | 658,000 shares |
KP Green Engineering IPO Reservation and Lot Size
The upcoming IPO of KP Green Engineering offers the following shared from the net issue with the respective investor categories:
| Investors category | Shares offered |
| Qualified Institutional buyers | 50% of the net issue |
| Retail | 35% of the net issue |
| Non-Institutional Investors (HNI) | 15% of the net issue |
The minimum lot market offered in the KP Green Engineering IPO contains 1000 shares. A retail investor can invest a minimum amount of investment ₹144,000 on 1 lot of 1000 shares.
The following table depicts the Lot size distribution among the investor category:
| Investor Category | Lots | Shares | Amount |
| Retail (minimum) | 1 | 1000 | ₹144,000 |
| Retail (maximum) | 1 | 1000 | ₹144,000 |
| HNI (minimum) | 2 | 2000 | ₹288,000 |
KP Green Engineering IPO GMP
The latest GMP of KP Green Engineering according to the trend of grey market premium is ₹80 per share. It was last updated on 8 March 2024 with a price band of ₹144.
This indicates the listing price of KP Green Engineering IPO estimates at ₹224 at a premium of 55.56%.
Day-wise GMP trend of KP Green Engineering IPO:
| Date of updation | IPO Price | GMP | Subject to Sauda Rate | Estimated listing price |
| 8 March 2024 | 144 | ₹80 | 60800 | ₹224 |
Remember, the trend shows for only one session, so it is too early to tell the direction of KP Green Engineering IPO GMP.
The market cap of KP Green Engineering IPO is ₹720 crore and in FY 2022-2023, the company got a net profit of ₹12.40 crore on the revenue of ₹114.21 crore. Investors looking to invest in the steel industry can subscribe to the KP Green Engineering IPO from 15 March 2024.
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