Kataria Industries IPO Day 2: Issue booked over 16 times so far, retail investors lead; check details

Kataria Industries IPO has received a good response from investors. On the second day of subscription on Thursday, the issue was subscribed over 16 times. The initial public offering received bids for 6.62 crore shares against 40.67 lakh shares on offer.

On Day 2, the IPO has been subscribed 16.29 times so far. The portion reserved for retail investors has been subscribed 28.69 times, receiving bids for 5.42 crore against 18.89 lakh shares on offer.

The non-institutional investors (NIIs) part was subscribed 10.98 times with bids for 1.20 crore shares against 10.97 lakh shares on offer.

The qualified institutional buyers (QIBs) category is yet to see any subscription.

Kataria Industries IPO, which is live from July 16 to July 19, has fixed the price band at ₹91 to ₹96 per equity share. The ₹54.58 crore initial share sale is a fresh issue of 56.85 lakh equity shares.

The shares of the company will be listed on the NSE SME platform Emerge. The company has reserved 50% of net issue for QIBs, 15% for NIIs and 35% for retail investors.

The IPO proceeds will be used for debt repayment and capital expenditure for machinery and plant. It will also be utilised for general corporate purposes.

About Kataria Industries

Kataria Industries, established in 2004, manufactures and supplies low relaxation pre-stressed concrete strands and steel wires, and post-tensioning anchorage systems. It has two manufacturing plants in Ratlam.

In the financial year ending March 31, 2024, the company posted a revenue of ₹339.1 crore and EBIDTA of ₹22.93 crore.