IPO Details

Bidding Dates

15 Mar '24 - 19 Mar '24

Minimum Investment

₹ 144,000 / 1 Lot ( 1000 Shares )

Price Range

₹137 - ₹144

Maximum Investment

₹ 144,000 / 1 Lot ( 1000 Shares )

Retail Discount

Not Applicable

Issue Size

₹189.50 Cr

Investor category and sub category

Retail Individual Investors  |   Non-Institutional Investors  |   Qualified Institutional Buyers (QIB)  |  

KP Green Engineering IPO Dates

Important dates with respect to IPO allotment and listing

Anchor Date

Mar 14, 2024

Opening Date

Mar 15, 2024

Closing Date

Mar 19, 2024

Basis of Allotment

Mar 20, 2024

Initiation of Refunds

Mar 21, 2024

Credit of Shares to Demat

Mar 21, 2024

Listing Date

Mar 22, 2024

Cut-off time for UPI mandate confirmation

Mar 19, 2024

KP Green Engineering IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Mar 15, 2024

 1.05X 1.32X 1.93X 1.55X

Day 2Mar 18, 2024

 1.97x 7.24x 8.15x 6.19x

Day 3Mar 19, 2024

 31.86x 48.23x 20.12x 29.50x

KP Green Engineering IPO Subscription Status Live

Investor Category Subscription (Times)
Qualified Institutional Buyers 31.86
Non-Institutional Buyers 48.23
Retail Investors 20.12
Total 29.50

About KP Green Engineering Limited

KP Green Engineering Limited, established in 2001, is a distinguished manufacturer of fabricated and hot-dip galvanised steel products. Their comprehensive product portfolio encompasses Lattice Towers Structures, Substation Structures, Solar Module Mounting Structures, Cable Trays, Earthing Strips, Beam Crash Barriers, and various other infrastructure solution products, all under the guiding principle “A Company to Solve the Difficulties.”

They boast an in-house fabrication and Hot Dip Galvanising facility that facilitates bespoke solutions for their clientele, offering a complete package that includes engineering, designing, fabrication, galvanisation, and implementation.

The core business areas of KP Green Engineering Limited are categorised into two primary segments:

  1. Production of Fabricated and Galvanized Products
  2. Provision of Services, which includes:
    • Fault Rectification Services
    • Galvanizing Job Work
    • Solar Installation Services
Established by Dr. Farukbhai Gulambhai Patel in 1994, the company is a part of the KP Group, rooted in Gujarat, has grown significantly over more than 25 years. The conglomerate includes over 30 companies across India, each contributing to its dynamic expansion. With a strategic focus on diversification, KP Group ventures into sectors such as fabrication and galvanising, renewable energy (solar and wind), telecom infrastructure, and green hydrogen and ammonia.

Manufacturing Facility

KP Green Engineering Limited is a recognised supplier for both the Gujarat Energy Transmission Corporation Limited (GETCO) and the Maharashtra State Electricity Transmission Company (MSETCL), with authorization to deal in capacities up to 400 Kw and 220 Kw respectively. The company's operations are anchored at its Dabhasa, Vadodara manufacturing base, which spans over 200,000 sq. ft.

This facility is outfitted with advanced CNC machinery and equipment, showcasing KP Green Engineering Limited's commitment to leveraging modern technology. Further solidifying its dedication to excellence, the company has achieved ISO 9001:2015 certification.

Industry Outlook

  1. India's recent commitment to achieve net zero carbon emissions by 2070 and generate 50% of its electricity from renewables by 2030, marking a significant step in global climate efforts.
  2. Renewable power capacity in India has grown rapidly, with a 15.92% annual growth rate between FY16-22, and is expected to double by 2026.
  3. Government support and improved economics have made the renewable energy sector attractive to investors. With India's energy demand projected to reach 15,820 TWh by 2040, renewable energy will play a crucial role in meeting this demand.

KP Green Engineering Limited IPO Details

KP Green Engineering Limited IPO Dates

The IPO of KP Green Engineering Limited is open for subscription from March 15, 2024, to March 19, 2024.

KP Green Engineering Limited IPO's Price Band

KP Green Engineering Limited’s IPO is a fresh issue IPO of up to ₹189.50 crore. It is a book-building issue. The price range is set to ₹137 to ₹144 per share.

KP Green Engineering Limited IPO's Lot Size

The lot size for KP Green Engineering Limited’s IPO is 1,000 shares with a minimum investment of ₹1,44,000.

KP Green Engineering Limited IPO's Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. KP Green Engineering Ltd intends to use ₹15,614.47 lakhs from the IPO proceeds to set up a new manufacturing plant in Matar, Bharuch with a capacity of 2,90,000 MT, which is significantly higher than the existing 53,000 MT.
  2. General Corporate Purposes.

Peer Details

As per RHP, the listed peer whose business portfolio is comparable to the KP Green Engineering are as follows:

  1. Salasar Techno Engineering Ltd.
  2. Skipper Ltd.

How To Check the Allotment Status of KP Green Engineering Limited’s IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. As such, Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of KP Green Engineering Limited

Registered office: 'KP House', Near KP Circle, Opp. Ishwar Farm Junction BRTS, Canal Road, Bhatar, Surat, Gujarat- 395017 India

Contact Person: Mr Saurabh Sharma

Phone: 0261 2244 757

E-mail: compliance@kpgroup.co

IPO Financials

Particulars For the period Ended on September 30, 2023 Year ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Total Income (in ₹ lakh) 10,413.64 11,478.50 7,842.35 3,883.66
EBITDA Margin (%) 16.75% 18.13% 11.54% 13.52%
Profit After Tax (PAT) (in ₹ lakh) 1126.64 1239.60 454.46 158.45
PAT Margin (%) 10.84% 10.85% 5.85% 4.10%
Cash & Cash Equivalents (in ₹ lakh) 931.79 354.24 320.88 367.50
Debt to Equity Ratio(x) 1.11 0.54 0.98 1.29
Return on Equity (%) 29.24% 46.43% 24.93% 10.52%
Return on Capital Employed (RoCE) (%) 23.05% 42.48% 21.01% 13.47%
Earning Per Share (EPS)-in absolute ₹ 3.14 3.46 1.27 0.44

Know before investing

Strengths

3

  1. KP Green Engineering boasts a distinctive competitive edge with its execution capabilities, operating from a Vadodara facility with an annual capacity of over 53,000 MT, consistently increasing capacity over the last three years.

  2. Demonstrating robust financial health, KP Green Engineering's income has soared at a 71.98% CAGR from ₹3,861.32 Lakhs in FY 2020-21 to ₹11,420.89 Lakhs in FY 2022-23, with profits growing at 179.70% CAGR.

  3. Led by the visionary Founder and Chairman, Dr. Farukbhai Gulambhai Patel, with over fifteen years in renewable energy, KP Green Engineering benefits from his extensive experience and a professional leadership team.

Risks

3

  1. KP Green Engineering's operations and revenue are predominantly concentrated in Gujarat, with 99.06% of its total standalone revenue for the period ending September 30, 2023, sourced from this region. Any negative developments in Gujarat could significantly impact the company's financial health and operational results.

  2. The company's revenue relies heavily on a limited number of key customers, with the top ten clients accounting for over 65% of its revenue across recent fiscal periods. Losing any major customer could materially affect KP Green Engineering's revenue and profitability.

  3. KP Green Engineering faces risks from foreign exchange fluctuations, as it needs to import plant and machinery valued at ₹5,339.19 lakhs. With orders for such imports not yet placed, currency volatility could adversely affect the costs of these critical assets.

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KP Green Engineering Limited IPO FAQs

What is KP Green Engineering Limited's IPO?

KP Green Engineering Limited IPO is a fresh issue of up to ₹189.50 Crore. It is a book-built issue. 

When will KP Green Engineering Limited's IPO be allotted?

The KP Green Engineering Limited’s shares will be allotted on March 21, 2024.

When will KP Green Engineering Limited's IPO open for subscription?

The IPO subscription window for KP Green Engineering Limited will open on March 15, 2024.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for at least one lot, which is a size of 1,000 shares, with a sum of ₹1,44,000.

When will KP Green Engineering Limited list on exchanges?

KP Green Engineering Limited will be listed on BSE SME. The stock will be listed on March 22, 2024.

How do I check the allotment status of KP Green Engineering Limited?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • As such, Angel One will notify you of your IPO allotment status via push notification and email.

What would be the listing gains on KP Green Engineering Limited's IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for KP Green Engineering Limited, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for KP Green Engineering Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of KP Green Engineering Limited using one PAN?

You can submit only one application using your PAN card.