Kaka Industries IPO: 19.2x Subscription on Day 1; Retail Portion 33x Overbooked

Techknowgreen Solutions IPO opens today: Key details in 10 points

Kaka Industries IPO Subscription Status on Day 1

Kaka Industries Ltd’s initial public offering (IPO) experienced significant subscription on its first day of bidding, primarily driven by robust demand from retail investors. The IPO of Kaka Industries saw a remarkable subscription rate of 19.23 times on July 10, marking the commencement of the bidding process.

Among the investor categories, the retail segment witnessed an overwhelming response, with a subscription rate of 33.63 times. In contrast, the Qualified Institutional Buyers (QIB) category observed a modest subscription rate of 0.06 times. The Non-Institutional Investors’ (NII) portion was booked 11.21 times by 5:00 pm on day one.

The subscription period for the ₹21.23-crore worth Kaka Industries IPO commenced on Monday, July 10, and will conclude on Wednesday, July 12.

Kaka Industries specializes in manufacturing polymer-based profiles utilized in various applications such as partitions, false ceilings, wall panelling, kitchen cabinets, doors, windows, and both interior and exterior works.

The public issue has been priced in the range of ₹55 to ₹58 per equity share. It comprises a fresh issue of 3,660,000 equity shares with a face value of ₹10, amounting to a total of ₹21.23 crore. The lot size for the Kaka Industries IPO is 2,000 shares.

On July 17, the basis of allotment for shares will be finalized, followed by refunds on July 18. Subsequently, the shares will be credited to the demat accounts of allottees on July 19. It is expected that Kaka Industries shares will be listed on BSE SME on Thursday, July 20.

The registrar for the IPO is Bigshare Services Pvt Ltd, and Hem Securities Ltd is the lead manager for the offering.

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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