KP Green Engineering Limited is gearing up for its Initial Public Offering (IPO) on the BSE SME platform. The IPO is scheduled to open on March 15, 2024, and will close on March 19, 2024. The company aims to raise approximately ₹189.50 crores through this IPO, offering 1,31,60,000 equity shares at a price band of ₹137 to ₹144 per share. The market lot for the IPO is set at 1000 shares.
**About KP Green Engineering Limited:**
KP Green Engineering is a solar power generating company that operates as both an Independent Power Producer (IPP) under the brand name ‘Solarism’ and as a Captive Power Producer (CPP). The company is involved in the construction, operation, and maintenance of grid-connected solar power projects.
It generates revenue by entering into Power Purchase Agreements (PPA) for selling power units generated through its solar projects. The company also develops, transfers, operates, and maintains grid-connected solar power projects for CPP customers.
The existing Solarism Plant is located at Sudi & Tanchha village, Amod, Bharuch, Gujarat. They have established a 66 KV transmission line from the Solarism Plant to the Gujarat Energy Transmission Corporation Limited (GETCO) substation located at Amod, Bharuch, Gujarat.
KP Green Engineering plans to increase its solar power generation capacity by setting up another solar power project for 25 MW at Sudi, Samiyala & Tanchha village, Amod, Bharuch, Gujarat (referred to as Unit II). The estimated cost of this project is ₹13,203.76 lakh, and the proposed date of commercial commencement is July 2019. After this expansion, the company’s total solar power generation capacity will increase to 40 MW.
**Objects of the Issue:**
1. Part finance the capital expenditure towards setting up a new manufacturing unit to expand its current production capabilities and product portfolio.
2. General Corporate Purposes
**KP Green Engineering IPO Details:**
– **IPO Open:** March 15, 2024
– **IPO Close:** March 19, 2024
– **IPO Size:** Approximately ₹189.50 Crores (1,31,60,000 Equity Shares)
– **Face Value:** ₹5 Per Equity Share
– **IPO Price Band:** ₹137 to ₹144 Per Equity Share
– **IPO Listing on:** BSE SME
– **Retail Quota:** 35% of the net offer
– **QIB Quota:** 50% of the net offer
– **NII Quota:** 15% of the net offer
**Market Lot Details:**
– **Minimum Market Lot:** 1000 shares with a ₹144,000 application amount
– **Retail Investors:** Can apply for 1 lot (1000 shares) up to a maximum of ₹144,000
**Important Dates:**
– **IPO Open Date:** March 15, 2024
– **IPO Close Date:** March 19, 2024
– **Basis of Allotment:** March 20, 2024
– **Refunds:** March 21, 2024
– **Credit to Demat Account:** March 21, 2024
– **IPO Listing Date:** March 22, 2024
Investors can check the IPO subscription status and allotment status on respective platforms.
**How to Apply for KP Green Engineering IPO:**
Investors can apply for the KP Green Engineering IPO via ASBA available in their bank accounts. The application can be submitted online by logging into the bank account and selecting the KP Green Engineering IPO in the Invest section. Alternatively, investors can download IPO forms from the BSE website, fill them, and submit them to their bank or broker.
**Company Financial Report (₹ in Crores):**
– **Year 2021:** Revenue ₹38.84, Expense ₹36.68, PAT ₹1.58
– **Year 2022:** Revenue ₹78.42, Expense ₹72.33, PAT ₹4.54
– **Year 2023:** Revenue ₹114.79, Expense ₹98.18, PAT ₹12.40
– **Year 2023 (6M):** Revenue ₹104.14, Expense ₹88.96, PAT ₹11.27
**Valuation (FY2023):**
– **Earning Per Share (EPS):** ₹3.46 per Equity Share
– **Price/Earning P/E Ratio:** Not specified
– **Return on Net Worth (RoNW):** 37.68%
– **Net Asset Value (NAV):** ₹9.18 per Equity Share
**Peer Group:**
– Salasar Techno Engineering Ltd
– Skipper Ltd
**Company Promoters:**
– Dr. Farukbhai Gulambhai Patel
– Mr. Hassan Faruk Patel
