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Krishca Strapping Solutions IPO GMP, Price, Dates & Allotment Details 2023

Krishca Strapping Solutions IPO GMP, Price, Dates & Allotment Details 2023

Introduction

The Krishca Strapping Solutions IPO will open on May 16 and close on May 19, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 17.93 crores through this public offering, consisting of 33.20 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 51 to ₹ 54 per share.

About Krishca Strapping Solutions Limited (“the Company”)

Established in the year 2017 in Tamil Nadu. “Krishca Strapping Solutions Private Limited” is a private limited company engaged as the manufacturer and wholesaler of strapping tools, strapping seals, etc. 

Noteworthy Highlight

Company steel strap quality parameters are in line with American, European, and Indian standards.

  • IS 5872:1990 – Cold rolled steel straps (box strappings) specification 
  • ASTM D-3953 – Standard Specification for Strapping, Flat Steel and Seals 
  • BS EN 13246:2001 – Packaging. Specification for tensional steel strapping 

Objects of the Issue,

The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:

  • Capital Expenditure for setting up of New Strapping Line
  • Repayment of certain secured borrowings in full
  • General corporate expenses and issue expenses

Financial Highlights (Restated Consolidated)

ParticularsThe period ended on 15th Feb. 2023FY 2021-22FY 2020-21FY 2019-20
Net Worth945160(120)64
Total Assets2,6971,5441,292916
Total Borrowings1,1939391,337827
Total Revenue6,3511,87297198
Profit After Tax786151(67)(224)
(Amount in ₹ Lakhs)

IPO details

Issue TypeBook built issue IPO
IPO Price₹ 51 to ₹ 54 per share
Face Value₹ 10 per share
Issue Size3,320,000 shares (aggregating up to ₹ 17.93 crores)
Fresh Issue3,320,000 shares (aggregating up to ₹ [.] crores)
QIB Shares OfferedNot more than 50.00% of the Net offer
NII (HNI) Shares OfferedNot less than 15.00% of the Offer
Retail Shares OfferedNot less than 35.00% of the Offer
Market Maker Share India Securities Ltd.
Market Maker portion300,000 shares
Listing AtNSE SME
Company PromotersMr. Lenin Krishnamoorthy Balamanikandan

GMP: Krishca Strapping Solutions IPO

GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates: Tata Technologies IPO

The issue opens for subscription on May 16, 2023, and closes for subscription on May 19, 2023 (both days inclusive). The basis of allotment will be finalised on May 24th, 2023, and the refunds will be initiated on May 25, 2023. In addition, the demat credits are expected to happen on May 26th, 2023, and the stock will list on May 29, 2023, on the NSE SME. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateMay 16, 2023
Closing DateMay 19, 2023
Basis of AllotmentMay 24, 2023
Initiation of RefundsMay 25, 2023
A credit of shares to Demat A/cMay 26, 2023
Listing DateMay 29, 2023

Lot Size

The lot size of the Tata Technologies IPO is 2,000 shares. A retail-individual investor can apply for up to 1 lot, i.e. 2,000 shares of ₹ 108,000.

ApplicationsLotsSharesAmount 
Retail (Minimum)12,000₹ 108,000
Retail (Maximum)12,000₹ 108,000
HNI (Minimum)24,000₹ 216,000

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationKrishca Strapping Solutions Limited
Building 01B, LOGOS Mappedu Logistics Park Sathara,
Thiruvallur Taluk Thiruvallur District – 631203
Phone: +91-9884111098
Email: [email protected]
Website: http://www.krishcastrapping.com/
IPO RegistrarPurva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: [email protected]
Website: http://www.purvashare.com
IPO Lead Manager(s)Share India Capital Services Private Limited 

FAQ’s

The Krishca Strapping Solutions IPO price is ₹ 51 to ₹ 54 per share.

The minimum investment size is one lot for retail investors. One lot of the Krishca Strapping Solutions IPO contains 2,000 shares of ₹ 108,000.

The finalisation of the basis of allotment for the Krishca Strapping Solutions IPO will be done on May 24, 2023, and the allotted shares will be credited to your demat account by May 26, 2023. Check the Krishca Strapping Solutions IPO allotment status.

The Krishca Strapping Solutions IPO shares listing date is May 29, 2023.

The investors’ portion for QIB is 50% of the Net offers, NII (HNI) is 15%, and retail is 35% of the offer.

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