KP Green Engineering IPO subscribed 10x so far on final day; Enfuse Solutions issue booked 63x

The IPO of KP Green Engineering, which is the largest in the SME segment this year, was booked 10 times so far on the final day of the bidding process. The issue received bids for over 9 crore shares as against 87 lakh shares on offer.

The IPO is entirely a fresh equity issue of 1.31 crore shares and through the issue, the company aims to raise Rs 189 crore.

The company is offering its shares at Rs 144 apiece, and investors can bid for 1,000 shares in 1 lot.


The net proceeds from the public offer will be used for part financing the capital expenditure, general corporate purposes and issue expenses.

Incorporated in 2001, the company manufactures fabricated and hot-dip galvanized steel products. Its diverse range of products includes Lattice Towers Structures, Substation Structures, Solar Module Mounting Structures, Cable trays, Earthing strips, Beam Crash Barriers and other infrastructure solution products.

For the period ended September 2023, the company clocked revenues of Rs 74 crore and net profit of Rs 8.55 crore.
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Beeline Capital Advisors is acting as the lead manager to the issue and Bigshare Services is the registrar.

Meanwhile, the issue of Enfuse Solutions was subscribed 63 times on the third day of bidding. The IPO, which is entirely a fresh equity issue of 23.3 lakh shares, closes today.

The company has priced the IPO in the range of Rs 91-96 apiece, and investors can bid for 1,200 shares in 1 lot.

The net proceeds from the public offer will be used for repayment of debt, working capital requirements and general corporate purposes.

The company's business operations encompass various domains including in data management and analytics, e-commerce and digital services, machine learning and AI and edtech and technology solutions.

For the period ended December 2023, the company clocked revenues of Rs 38 crore and net profit of Rs 3.22 crore.

Hem Securities is acting as the lead manager to the issue and Bigshare Services is the registrar.

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