Krishca Strapping Solutions’ IPO Opens on 16th May 2023

• Anchor Investor Bidding 15th May 2023

• Issue Size – 33,20,000 equity shares of ₹ 10 each

• Issue Size – ₹ 16.42 crore – ₹ 17.93 crore

• Price Band – ₹ 51 – ₹ 54

• Market Lot Size – 2,000 Equity Shares

Equity Share Allocation

• Anchor Investor – 9,04,000 Equity Shares
• Qualified Institutional Buyers (QIB) – 6,04,000 Equity Shares
• Non-Institutional Investors (NII) – 4,54,000 Equity Shares
• Retail Individual Investors (RII) – 10,58,000 Equity Shares
• Market Maker – 3,00,000 Equity Shares

The net proceeds from the IPO will be utilized to fund capital expenditure for setting up of new strapping line (₹12.04 crore) and repayment of certain secured borrowing (₹3.75 crore). The issue closes on May 19^th, 2023.

The Lead Manager to the Issue is Share India Capital Services Private Limited and The Registrar to the Issue is Purva Sharegistry India Private Limited.

Mr. Lenin Krishnamoorthy Balamanikandan, Chairman & Managing Director, Krishca Strapping Solutions Limited said,” Our mission is to be one of the major players of the industry serving all leading customers. The IPO funding will enable us to expand our capacity, and strengthen our balance sheet by repayment of loan. We intend to grab major market share in the domestic market and enhance our presence in the export market with increased capacity and entry into packing contracts.”

Mr. Anand Srivastava, Executive Director, Share India Capital Services Private Limited, a lead manager to the issue, said, “We believe that this offering will provide the company with the necessary resources to meet growth capital and enhance its market share.”

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