Rs. 40 crore IPO of KPI Global Infrastructure mops subscription of Rs. 436 Crore
The issue got a tremendous subscription of 10.91 times till 5:30 pm.
Deepthi | Myequity news | Date : 11-01-2019 19:55:00 IST
Surat Headquartered KPI Global Infrastructure Limited got a tremendous subscription for its IPO on SME exchange of BSE. The issue was subscribed 10.91 times on day four at 5:30 pm with retail portion oversubscribing by 10.21 times and QIB & HNI portion combined subscribed by 12.65 times. Market maker portion was subscribed 1 time
The IPO moped a demand of Rs. 436 crore till 05:30 pm on the last day making it one of the most successful money raising issue in recent times. The issue got close to 15,370 applications which is one of the biggest in SME sector.
KPI Global Infrastructure Limited, which for the maiden IPO of calendar year 2019 opened on January 8, 2019 with a price band of Rs.80 per Equity Share of face value of Rs. 10 each of the Company.
Commenting on the response, Mr. Faruk Patel, Founder, KPI Global Infrastructure Limited, said, “We are overwhelmed by the record response we received from the investors for our IPO. It is a matter of honor KPI Global Infrastructure to be a part of the BSE SME. This would not have been possible without the trust shown by our investors. We are confident that together we will deliver value for all stakeholders in the times to come.”
Vivro Financial Services Private Limited is the Lead Managers (“LM”) to the Issue. The Registrar to the Issue is Bigshare Services Private Limited. The Equity Shares of KPI Global Infrastructure Limited is proposed to be listed on SME Platform of BSE. About KPI Global Infrastructure Limited:
KPI Global Infrastructure Limited is a solar power generating Company focused on providing solar power, both as an Independent Power Producer (“IPP”) under the brand name of ‘Solarism’ and as service provider to Captive Power Producer (“CPP”) customers. KPI Global builds, its, operate and maintain grid connected solar power projects as IPP and generate revenue by entering into Power Purchase Agreements (“PPA”) with third parties for selling power units generated through its solar projects. Company also develops, transfer, operate and maintain grid connected solar power projects for CPP customers and generate revenue by selling these projects to CPP customers for their captive use requirements. Both these businesses, IPP and CPP, are currently carried out at plant located at Sudi & Tanchha village, Amod, Bharuch, Gujarat (Solarism Plant). Company has also established a ~13.25 km long 66 KV transmission line from its Solarism Plant to the Gujarat Energy Transmission Corporation Limited (“GETCO”) substation located at Amod, Bharuch, Gujarat (Amod Substation), for evacuation of the solar power generated at our Solarism Plant.