Krupalu Metals IPO: The ₹13.48-crore initial public offering (IPO) of Krupalu Metals kicked off for bidding on Monday, September 8. The issue, which is slated to close on September 11, is entirely a fresh issue of 0.19 crore shares.
It is a fixed price issue of ₹72 per share, wherein investors can apply for the IPO in lots of 1,600 shares. A retail investor needs to apply for a minimum of two lots, needing an investment of ₹2,30,400.
The company plans to use the funds raised from the share sale for funding capital expenditure such as the purchase of additional plant and machinery, meeting working capital needs and issue-related expenses, along with general corporate purposes.
The allotment date for Krupalu Metals IPO is set as September 12, while the listing of shares on BSE SME is slated for September 16.
Krupalu Metals IPO Subscription Status
As of 12 pm on the first day of the bidding, Krupalu Metals IPO was booked 4% so far. The quota reserved for retail investors was booked 8% while the portion for non-institutional investors (NIIs) did not see any bids.
Overall, the IPO received bids for 70,400 shares as against 17,76,000 shares on offer.
Krupalu Metals IPO GMP
Krupalu Metals IPO grey market premium (GMP) was nil today, i.e. the shares are trading at par to the issue price of ₹72 in the grey market. With Krupalu Metals IPO GMP as ₹0, there is no possibility of listing gains for the counter. However, investors must note that the grey market premium is subject to wide fluctuations.
About Krupalu Metals
Krupalu Metals is engaged in the manufacturing of a wide range of brass and copper products. The company specialises in producing brass and copper sheets and strips, metal components, and providing various job work services.
These metal components include cutting components, inserts, pipe fittings, profiles, terminals, electrical components, bus bars, and many other customised products. In addition to its manufacturing capabilities, the company also trades raw materials, ensuring that it has access to a diverse range of metal products to meet the specific requirements of its customers across different industries.
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