Kasturi Metal Composite IPO is opening today on Tuesday. There will be a chance to place bets on the company’s IPO from today i.e. from January 27 to January 29. The size of the IPO is Rs 17.61 crore. The company will issue 28 lakh fresh shares through the issue. Let us tell you, the IPO is completely based on fresh shares. Existing investors are not selling a single share in the issue.
What is the price band?
The price band of Kasturi Metal Composite IPO has been set at Rs 61 to Rs 64 per share. The company has made one lot of 2000 shares. Retail investors must place bets on at least two lots simultaneously. Because of which an investment of at least Rs 256000 will have to be made. Let us tell you, this is an SME segment IPO. Its listing will be in BSE SME.
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Company raised Rs 5 crore from anchor investors
Kasturi Metal Composite IPO opened for anchor investors on January 23. The company had raised Rs 5 crore from anchor investors. The lock-in period of 50 percent of the shares issued to anchor investors is 30 days. Whereas, the lock-in period of the remaining 50 percent shares is 90 days.
gmp zero
According to the report of Investors Gain, the company’s IPO is trading at a premium of zero rupees in the gray market today. There is no movement in the gray market regarding this IPO. Due to which there might be doubt in the minds of investors regarding its listing gain.
What does the company do?
Kasturi Mentor Composite Limited IPO produces steel fiber products. It also exports it. The company will use the issue money for capital expenditure, mechanical and electrical works, interior work etc.