Kalana Ispat IPO Subscription Status

Kalana Ispat's initial public offering (IPO) has garnered strong investor interest, with subscription rates increasing significantly over the three-day period. Starting modestly on day one, the IPO witnessed a surge in demand, resulting in a 19.08 times oversubscription by 11:24:00 AM on day three. This response underscores the market appetite for Kalana Ispat's shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 19th September 2024, has seen significant growth in investor participation across categories. Kalana Ispat attracted bids for 8,94,76,000 equity shares amounting to ₹590.54 crore.

The Retail Investors segment, in particular, has shown overwhelming demand, followed by strong interest from Non-Institutional Investors (NII). 

Subscription Status of Kalana Ispat IPO for Days 1, 2, and 3:

Note: Market Maker portion is not included in NII/HNI.

Here are the subscription details for Kalana Ispat IPO as of Day 3 (23rd September 2024, 11:24:00 AM):

Total Applications: 34,466

Note: The total amount is calculated based on the upper price of the issue price range.
 

Key Highlights:

• The IPO of Kalana Ispat is currently subscribed 19.08 times, with exceptional demand from Retail Investors.
• Retail investors have shown overwhelming interest, with a subscription ratio of 29.40 times.
• Non-Institutional Investors (NII) have demonstrated strong enthusiasm, with a subscription ratio of 8.76 times.
• The overall subscription trend increases day-on-day, indicating high investor confidence and positive sentiment towards the issue.

Kalana Ispat IPO - Day 2 Subscription at 4.50 Times

Key Highlights:

• On Day 2, Kalana Ispat's IPO was subscribed 4.50 times, with strong demand from Retail Investors.
• Retail investors showed significantly increased interest with a subscription ratio of 7.82 times.
• Non-Institutional Investors (NII) showed increased interest with a subscription ratio of 1.19 times.
• The overall subscription trend indicated building momentum, with retail category showing significant increased participation.

Kalana Ispat IPO - Day 1 Subscription at 0.79 Times

Key Highlights:

• The IPO of Kalana Ispat was subscribed 0.79 times on Day 1, with initial demand primarily from Retail Investors.
• Retail investors showed early interest with a subscription ratio of 1.39 times.
• Non-Institutional Investors (NII) showed minimal initial interest with a subscription ratio of 0.19 times.
• The first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About Kalana Ispat Ltd:

Kalana Ispat Limited, incorporated in October 2012, is primarily involved in manufacturing M.S. Billets and Alloy Steel Billets of various grades.

Key features of Kalana Ispat:

• Manufactures M.S. Billets and Alloy Steel Billets of various grades
• Business segments include Sale of Products and Sale of Services
• Manufacturing facility certified with ISO 2830:2012
• Annual manufacturing capacity of 38000MT/Annum
• Focus on innovation and consistent track record of profitable growth
• Experienced promoters and dedicated employees
• As of September 2024, the company has three key management personnel (KMPs) and fifteen employees
• Reported revenue of ₹73.94 crore and PAT of ₹2.37 crore for FY 2024

Read more about Kalana Ispat IPO

Highlights of the Kalana Ispat IPO:

• IPO Date: 19th September 2024 to 23rd September 2024
• Listing Date: 26th September 2024 (Tentative)
• Face Value: ₹10 per share
• Price: ₹66 per share (Fixed Price Issue)
• Lot Size: 2000 Shares
• Total Issue Size: 4,938,000 shares (aggregating up to ₹32.59 Cr)
• Fresh Issue: 4,938,000 shares (aggregating up to ₹32.59 Cr)
• Issue Type: Fixed Price Issue IPO
• Listing At: NSE SME
• Book Running Lead Manager: Jawa Capital Services Private Limited
• Registrar: Skyline Financial Services Private Ltd
• Market Maker: Aftertrade Broking