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Krishca Strapping Solutions IPO: There are some such IPOs in the stock market, which increase investors’ money manifold on the very day of listing. One such IPO is of Krishka Strapping Solutions. Bumper listing of this IPO took place on Friday.
What was the issue price: Please tell that this NSE SME IPO had an issue price of ₹ 54. At the same time, the listing of this stock was done on the National Stock Exchange at around ₹ 113. At the same time, the share price reached Rs 118.80 during trading.
Strong response was received: The IPO of Krishka Strapping Solutions was subscribed 244.92 times. The IPO opens for bidding on May 16, 2023 and closes on May 19, 2023. The price band of the IPO was fixed at Rs 51-54 per share. The IPO consisted of a fresh issue of up to 33,20,000 shares. The promoter and promoter group shareholding decreased from 86.34% to 62.2% post IPO.
Anchor Investors Response: Krishka Strapping Solutions raises Rs 9.04 lakh from anchor investors ahead of the IPO. Explain that the company has a revenue of Rs 63.41 crore and a profit of Rs 7.85 crore. The company has 50 employees. The company has a manufacturing unit at Chennai with a capacity of 18000 MT of Steel Straps.
