IPO Details
Bidding Dates
15 May '23 - 18 May '23
Minimum Investment
₹108,000 / 1 Lots (2000 Shares)
Price Range
₹51-₹54
Maximum Investment
₹108,000 / 1 Lots (2000 Shares)
Retail Discount
Not Applicable
Issue Size
₹17.93 crore
Investor category and sub category
Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investor |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
May 15, 2023
Closing Date
May 18, 2023
Basis of Allotment
May 23, 2023
Initiation of Refunds
May 24, 2023
Credit of Shares to Demat
May 25, 2023
Listing Date
May 28, 2023
UPI Mandatory Expiry Date
May 18, 2023
IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1May 15, 2023 |
1.75 | 25.86 | 44.63 | 20.38 |
Day 2May 16, 2023 |
1.89 | 63.91 | 136.22 | 58.21 |
Day 3May 17, 2023 |
4.82 | 150.47 | 291.94 | 127.16 |
Day 4May 18, 2023 |
6.59 | 216.79 | 366.15 | 163.97 |
Krishca Strapping Solutions IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyer | 6.59 |
| Non-Institutional Buyers | 216.79 |
| Retail Investors | 198.01 |
| Employees | [.] |
| Others | [.] |
| Total | 163.97 |
About Krishca Strapping Solutions Limited IPO
Krischa Stapping Solutions is a Chennai-based startup that manufactures steel straps, seals, and allied packaging solutions. The company’s manufacturing facility in Chennai has a total annual capacity to produce 18,000 metric tons of steel strapping and 65 million steel seals. It uses state-of-the-art modern machines, supervised by expert metallurgists and engineers to manufacture heat-treated, high-tensile steel straps.
Krishca Strapping Solutions Limited IPO Details
Krishca Strapping Solutions IPO is a fresh issue offer of 33.2 lakh shares worth Rs. 17.93 lakh. The bidding window will open for retail investors on May 16, 2023. The price band for the book-building IPO is fixed at Rs. 51–54 per share.
Krishca Strapping Solutions Limited IPO Objective
The net proceeds from the fresh issues will be utilised in the areas below.
- To meet expenses for setting up a new strapping line
- Repayment of certain market borrowings in full
- To meet general corporate purposes and issue expenses
Should you invest in Krishca Strapping Solutions Limited?
Here are a few significant reasons to consider before investing in the IPO:
- It owns India’s first most advanced integrated, fully automated production line.
- In the steel strapping industry, Krishca Strapping Solutions owns approximately 7.6% of the market share.
- The company might see a rise in demand and market share as the steel strap market is projected to witness significant growth in the next 15 years. The current consumption rate of 9000–11000 tons per month is expected to see 5–10% growth each year.
Competitive Peers
The other players in the segment recognised by the company are Usha Martin and Metal Coating India Ltd.
Noteworthy Highlights of Krishca Strapping Solutions Limited
- The top 5 customers of the company contributed 51.90% of the revenue in FY22.
IPO Financials
| Particulars | Year ending on March 31, 2022 | Year ending on March 31, 2021 | Year ending on March 31, 2020 |
|---|---|---|---|
| Revenue from Operations | 1861.12 | 941.05 | 96.09 |
| Profit After Tax (PAT) | 150.54 | 67.25 | 224.52 |
| PAT Margin | 8.08% | NA | NA |
| EBITDA | 171.71 | 67.25 | 224.52 |
| EBITDA Margin | 9.22% | NA | NA |
| EPS | 3.01 | 2.33 | 7.43 |
Know before investing
Strengths
3-
The company provides its customers with the best quality, customised steel strapping and seal products.
-
It owns a state-of-the-art manufacturing facility in Chennai.
-
It owns India’s first lead-free, environment-friendly production line.
Risks
3-
The company has negative cash and cash equivalent in FY20.
-
It doesn’t enter into long-term relationships with its customers and works on an order basis.
-
Only knowledgeable customers should invest because the steel industry is highly cyclical and volatile.
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Krishca Strapping Solutions IPO FAQs
The Krishca Strapping Solutions Limited IPO consists of fresh issues worth Rs. 17.93 crore. The Krishca Strapping Solutions Limited IPO price band is fixed at Rs. 51–54 per share.
The Basis of Allotment date for Krishca Strapping Solutions Limited is May 24, 2023.
Retail investors can apply for one lot with 2000 shares.
The IPO bidding window will open on May 16, 2023.
Retail investors can apply for a minimum of one lot.
The Krishca Strapping Solutions Limited IPO will list on the exchange on May 29, 2023.
You can check the Krishca Strapping Solutions Limited IPO allotment status from Angel One’s mobile app. Log in to the app and validate with an OTP. In the next step, enter your application number, DP ID, and PAN number into the app to check the allotment status.
Listing gains cannot be ascertained before the listing of the IPO shares on the stock exchange, which is May 29, 2023, in the case of Krishca Strapping Solutions Limited.
The bank will only block the amount in your account. The money will not be debited before the IPO shares are allotted.
To approve the payment mandate, log in to your UPI handle. You will receive a payment request on the UPI payment platform. Approve the request.
You can submit only one application using one PAN card.
The minimum order quantity is one lot with 2000 shares.
