Gujarat : KP Green Engineering Limited to Launch India’s Largest SME IPO on March 15

Surat : Surat-based KP Green Engineering Limited, a leading entity under the KP Group, is set to make history in India’s capital markets with the unveiling of the country’s most substantial SME IPO to date.

Scheduled for launch on March 15, the IPO marks a significant milestone for the company and the sector at large. KP Green Engineering, renowned for its expertise in manufacturing hot-dip galvanized steel structures, has priced its equity shares at an enticing range of Rs 137 to Rs 144 each, with a face value of Rs 5. Investors eagerly anticipate the IPO’s opening on March 15, which will remain accessible for subscription until March 19.

Dr. Farukbhai Patel, the chairman and managing director of KP Group, expressed pride in the forthcoming SME IPO, highlighting its historic magnitude within the capital markets at the Roadshow event organised in Surat on Saturday. With a substantial total issue size of Rs 189.50 crore, the IPO promises to fuel KP Green Engineering’s ambitious growth plans. A significant portion of the funds raised, totaling up to Rs 156.14 crores, will be directed towards establishing a new manufacturing unit and expanding current production capabilities.

Established in 2001, KP Green Engineering has distinguished itself through its specialization in crafting hot-dip galvanized steel items. Its diverse product range encompasses lattice tower structures, substation structures, solar module mounting structures, cable trays, earthing strips, beach crash barriers, and various infrastructure solutions. Additionally, the company offers Fault Rectification Services (FRT) for optical fiber cables, galvanizing job work, and solar installation services.

Dr. Patel outlined the company’s strategic vision, which includes broadening its product portfolio to incorporate High Masts, floor gratings, pre-engineered buildings, and heavy fabrications. Moreover, plans are underway to establish a state-of-the-art manufacturing facility in Matar, Bharuch district, boasting an impressive installed capacity of 2.94 lakh Metric Tonnes (MT) per annum.

Acknowledged by key entities such as Gujarat Energy Transmission Corporation Limited (GETCO) and Maharashtra State Electricity Transmission Company (MSETCL), KP Green Engineering caters to transmission requirements of up to 400 Kw and 220 Kw, respectively.

For the six-month period ending in September, KP Green Engineering reported robust revenue from operations amounting to Rs 103.93 crores, coupled with a commendable profit after tax standing at Rs 11.27 crore.