Kataria Industries, a manufacturer of LRPC strands and steel wires, has opened its IPO for bidding on July 16, which will close on July 19. The price band is set at Rs 91-96 per share with a lot size of 1,200 shares. The company aims to raise Rs 54.58 crore entirely through fresh equity shares.
Ahead of the IPO, Kataria Industries raised Rs 15.53 crore from anchor investors, including AG Dynamics Funds and North Star Opportunities Fund. Retail investors can apply for a single lot at Rs 1,15,200, while non-retail investors must apply for at least two lots.
The funds will be utilized for capital expenditure on plant and machinery, debt repayment, and general corporate purposes. The grey market premium for the IPO has risen to Rs 50 per share, indicating a potential listing gain of 52%.
Kataria Industries operates two plants in Ratlam, Madhya Pradesh, serving both domestic and international markets, including Dubai, Qatar, and Brazil. The company reported a net profit of Rs 10.02 crore on revenue of Rs 341.49 crore for the fiscal year ending March 31, 2024.
50% of the net offer is reserved for qualified institutional bidders, 15% for non-institutional bidders, and 35% for retail investors. The shares are expected to list on the NSE’s Emerge platform on July 24.
