Kalana Ispat IPO allotment likely to be finalised on September 24: Steps to check status online

Kalana Ispat IPO allotment status is expected to be finalised on September 24. The initial public offering of the metal products manufacturer and trader was open for subscription from September 19-23.

The IPO closed for bidding on Monday with a strong demand as the public offer was subscribed nearly 58 times.

Investors are now awaiting for the IPO share allotment status. Successful bidders will be informed about the allotment through SMS and emails.

The investors, who participated in the IPO subscription, can check the share allotment status on the NSE and the website of the issue registrar.

Steps to check Kalana Ispat IPO share allotment status on registrar website:

• Go to the official website of Skyline Financial Services Pvt Ltd (https://www.skylinerta.com )
• Click on Investors and select Public Issues
• Select Kalana Ispat Ltd from the dropdown list for issue names. The name will appear after the share allotment is decided by the company.
• Fill Client ID, Application No or PAN details.
• Click on Search

Steps to check Kalana Ispat IPO share allotment on NSE website

• Visit the NSE IPO allotment status check page at https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password (Investors need to create Login & Password)
• Select Kalana Ispat from the list for issue names
• Verify PAN details
• Enter IPO application Number
• Click on Submit

Kalana Ispat Ltd IPO details

The ₹32.59-crore Kalana Ispat IPO, a fixed-price public offer, comprised a fresh issue of 49.38 lakh shares. The company fixed the IPO price at ₹66 per share. The minimum lot size was 2,000 shares and the minimum amount of investment was ₹1,32,000 for retail investors.

Jawa Capital Services Pvt Ltd was the book-running lead manager, while Aftertrade Broking is the market maker.

Kalana Ispat Ltd IPO was booked nearly 58 times at the close of bidding on Monday. Applications for 27.04 crore shares were received against 46.9 lakh shares on offer for subscription.

The retail portion was booked around 74 times as bids for 17.48 crore shares were received against 23.45 lakh shares on offer for the category.

The non-retail portion was booked around 40 times as bids for 9.56 crore shares were received against 23.45 lakh shares on offer. Qualified Institutional Buyers (QIBs) placed bids for 1.08 crore shares while Non Institutional Investors placed bids for 8.48 crore shares.

Kalana Ispat IPO listing date

According to the company’s RHP, Kalana Ispat Ltd will initiate refunds for non-allottees and credit shares to the Demat accounts of successful bidders on Wednesday, September 25.

The company has proposed to list its shares on the SME SME platform. The IPO listing date has been tentatively fixed as September 26.

Kalana Ispat IPO purpose

Kalana Ispat has proposed to utilise IPO proceeds to meet the capital expenditure for setting up a 4 MW DC and 3.5 MW AC Ground Mounted Solar Power Plant - TPSAT Structure.

The company will also use the IPO proceeds for setting up a rolling mill in Ahmedabad, Gujarat. It will use funds for purchase of equipment and machinery and other assets.

The company reported revenue of ₹73.94 crore for 2023-24 fiscal against ₹83.35 crore in FY 2022-23. The company’s profit after tax stood at ₹236.7 lakh in FY24 against ₹50.09 lakh in FY23.