Krishca Strapping Solutions Limited IPO Detail
Incorporated in 2017, Krishca Strapping Solutions Limited is a manufacturer and wholesaler of Strapping Tools and Strapping Seal.
The company has a manufacturing facility in Chennai with a capacity of 18,000 MT of steel straps and 80 million Seals per annum.
Krishca Strapping Solutions' product range includes:
- PLC Controlled automatic production line.
- Automated heat treatment process-Uniform grain structure.
- Pollution-free production process - Lead-free.
- Super Jumbo coils upto 500 Kg
The steel strap quality requirements of the company are in compliance with American, European, and Indian standards. That is IS 5872:1990 - Cold rolled steel straps (box strappings) specification; ASTM D-3953 - Standard Specification for Strapping, Flat Steel and Seals; and BS EN 13246:2001 - Packaging.
Krishca Strapping Solutions has a team of 50 employees working for them.
Company Promoters
Mr. Lenin Krishnamoorthy Balamanikandan, Mr. Terli Venkata Shivaji and Mrs. Navaneethakrishnan SaraladeviIPO Details
| IPO Opening Date | May 16, 2023 |
| IPO Closing Date | May 19, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹51 - 54 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹17.93 Cr |
| Fresh Issue | 3,320,000 shares |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 1.75x | - | - | 25.86x | 44.63x | 20.38x |
| Day 2 | 1.89x | - | - | 63.91x | 136.22x | 58.21x |
| Day 3 | 4.82x | - | - | 150.47x | 291.94x | 127.16x |
| Day 4 | 36.10x | - | - | 786.89x | 572.83x | 336.57x |
IPO Tentative Timetable
The Krishca Strapping Solutions Limited IPO open date is May 16, 2023, and the close date is May 19, 2023. The issue may list on May 29, 2023.
| IPO Open Date | May 16, 2023 |
| IPO Close Date | May 19, 2023 |
| Basis of Allotment Date | May 24, 2023 |
| Initiation of Refunds | May 25, 2023 |
| Credit of Shares to Demat Account | May 26, 2023 |
| IPO Listing Date | May 29, 2023 |
IPO Lot Size
The Krishca Strapping Solutions Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹108000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹108000 |
| Maximum | 1 | 2000 | ₹108000 |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 915.75 | 98.15 | -223.92 |
| 31-Mar-21 | 1,292.02 | 971.05 | -67.25 |
| 31-Mar-22 | 1,544.00 | 1,871.71 | 150.54 |
| 28-Feb-23 | 2,696.96 | 6,351.23 | 785.75 |
Objects of the Issue:
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Capital Expenditure for setting up of New Strapping Line
- Repayment of certain secured borrowings in full
- General corporate expenses and issue expenses
Krishca Strapping Solutions Limited IPO Registrar:
Purva Sharegistry India Pvt Ltd
Krishca Strapping Solutions Limited IPO Lead Manager(s):
Share India Capital Services Private Limited
Company Contact Information:
Krishca Strapping Solutions Limited
Building 01B,
LOGOS Mappedu Logistics Park Sathara,
Thiruvallur Taluk Thiruvallur District - 631203
