IPO Corner: KP Green Engineering Ltd.

Gujarat-based KP Green Engineering Limited, manufacturer of hot-dip galvanized steel structures, has fixed the price band of Rs 137/- to Rs 144/- per Equity Share of face value Rs 5/- each for its maiden initial public offer.

The Initial Public Offering of the Company will open on Friday, March 15th, 2024, for subscription and close on Tuesday, March 19th, 2024. Investors can bid for a minimum of 1000 Equity Shares and in multiples of 1000 Equity Shares thereafter. The issue consists of a fresh issue of up to 1,31,60,000 equity shares with “NO Offer for Sale” – from promoter and promoter group. The Issue is being made through the Book Building Process.

The overall project cost of the manufacturing facility is Rs. 174.04 crores. Out of the total net proceeds to be raised through the offer, the company proposes to utilise up to Rs 156.14 crores against the object “Part finance the capital expenditure towards setting up of a new manufacturing unit to expand its current production capabilities as well as expanding its current product portfolio”

KP Green Engineering Limited, a flagship company of KP Group, established by Dr. Farukbhai Gulambhai Patel, in 1994, KP Group has completed more than 25 years of its successful operations. The company has more than 30+ entities in its fold throughout India for organizational growth. KP Group also has more than 15+ years of experience in renewable energy sector.

Founded in 2001, the company specialized in manufacturing hot-dip galvanized steel items. Its extensive product range includes lattice tower structures, substation structures, solar module mounting structures, cable trays, earthing strips, beam crash barriers, and other infrastructure solutions.  Additionally, it offers Fault Rectification Services for optical fiber cables, galvanizing job work, and solar installation services.

With in-house fabrication and hot dip galvanizing facilities, KP Green Engineering offers one stop solutions of engineering, designing, galvanization, and deployment processes seamlessly with focused approach on renewable energy segment. Currently it operates from its manufacturing facility at Dabhasa, Vadodara, Gujarat, spread across 2lac sq. ft and has an installed capacity of 53,000MT per annum.

It plans to expand its existing product portfolio such as High Masts, Floor Gratings, Pre-Engineered Buildings and Heavy Fabrications along with existing product portfolio and establish a manufacturing facility at Matar, Bharuch with an installed capacity of 294,000 MT per annum.

KP Green Engineering Limited is also recognized by Gujarat Energy Transmission Corporation Ltd. and Maharashtra State Electricity Transmission Company and currently caters to requirements up to 400 Kw and 220 Kw, respectively. As on December 31, 2023, the Company has 69 projects with an aggregate order book value of approximately Rs 233.91 crore