Kaka Industries IPO Subscribed 268 Times on Final Day
Kaka Industries, a renowned company in the market, has experienced tremendous demand for its initial public offering (IPO), which is set to conclude today, July 12.
With a total value of ₹21.23 crore, the Kaka Industries IPO has been oversubscribed by more than 268 times as of the final day of bidding. By 3:30 pm, the public issue received an impressive 65.17 crore share bids, compared to the 36.6 lakh shares on offer.
The Kaka Industries IPO witnessed exceptional subscription rates across different categories. In the retail category, it was oversubscribed by 333.87 times, while in the Qualified Institutional Buyers’ (QIB) category, the oversubscription was 59.32 times. The Non-Institutional Investors (NII) portion experienced a remarkable oversubscription of 393.21 times.
Commencing on Monday, July 10, the Kaka Industries IPO will conclude today, Wednesday, July 12. The company has established a price range of ₹55 to ₹58 per equity share for the public issue. This IPO, categorized as an SME IPO, comprises a fresh issue of 36,60,000 equity shares with a face value of ₹10, aggregating up to ₹21.23 crore.
The lot size for the Kaka Industries IPO is 2,000 shares.
On July 17, the allotment of shares will be finalized, followed by refund initiations on July 18. Allottees can expect their shares to be credited to their demat accounts by July 19. The anticipated listing date for Kaka Industries shares on BSE SME is Thursday, July 20.
Hem Securities Ltd serves as the lead manager for the IPO, while Bigshare Services Pvt Ltd acts as the registrar.
Kaka Industries IPO Grey Market Premium (GMP):
Market observers report that the grey market premium (GMP) for Kaka Industries IPO stands at ₹52 per share. This implies that Kaka Industries shares are being traded at a premium of ₹52 in the grey market.
Considering the current GMP, it is anticipated that Kaka Industries shares may debut at approximately ₹110 per share, representing a premium of nearly 90%.
About Kaka Industries:
Established in 2019, Kaka Industries is a company that specializes in the production of polymer-based profiles used in various applications such as doors, windows, partitions, false ceilings, wall paneling, kitchen cabinets, and other interior and exterior projects.
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