The grey market premium for Kalana Ispat’s shares currently stands at ₹20 per share, suggesting an anticipated listing price of ₹86. This represents a 30.30% premium over the issue price of ₹66. However, it’s worth noting that the GMP has decreased from ₹35 in the previous session on September 20.
About the IPO
Kalana Ispat’s IPO consists solely of a fresh issue of 49.38 lakh shares, with no offer-for-sale component. The company aims to raise approximately ₹32.59 crore, which will be allocated for several critical initiatives:
- Capital Expenditure: Funding the installation of a 4 MW DC and 3.5 MW AC ground-mounted solar power plant.
- Rolling Mill Development: Establishing a new rolling mill at Survey No. 4/1, Taluka Sanand, Mouje Kala village, Ahmedabad. This will involve constructing an industrial shed and acquiring essential equipment and machinery.
- General Corporate Purposes: Supporting operational and strategic growth.
Investment Details
For those interested in participating in this IPO, the minimum lot size for retail investors is 2,000 shares, requiring an investment of ₹1,32,000. High net-worth individuals (HNIs) must apply for a minimum of 4,000 shares, which totals ₹2,64,000.
