Krishca Strapping Solutions IPO will open for subscription from 16 May 2023. the company aims for an issue size of ₹17.93 Cr through this IPO.
About Company
Incorporated in 2017, Krishca Strapping Solutions is a manufacturer and wholesaler of Strapping Tools and Strapping Seal – in states with the highest steel-producing capacity in India: Odisha, Chhattisgarh, Jharkhand, Karnataka.
At its Chennai facility, heat-treated high-tensile steel straps are manufactured using
state-of-the-art equipment and supervised by expert metallurgists and engineers.
- PLC Controlled automatic production line.
- Automated heat treatment process-Uniform grain structure.
- Pollution-free production process – Lead-free.
- Super Jumbo coils upto 500 Kg
The company’s steel strap quality parameters align with American, European, and Indian standards.
- IS 5872:1990 – Cold rolled steel straps (box strappings) specification
- ASTM D-3953 – Standard Specification for Strapping, Flat Steel, and Seals
- BS EN 13246:2001 – Packaging. Specification for tensional steel strapping
In Chennai, the company has an integrated manufacturing facility specializing in the production of high-tensile steel straps with an annual capacity of 18,000 MT of Steel Strapping, and 65 million units of Steel Seals. Krishca Strapping also started exports of its products in FY 2022 to the United Arab Emirates (UAE), Dubai, and Saudi Arabia and exports contributed nearly 5% in the latest accounting period.
Basic details about the company
| Full name | Krishca Strapping Solutions Limited |
| Sector | Iron & Steel |
| Industry | Steel & Iron Products |
| Company Website | http://www.krishcastrapping.com/ |
The Objective of the Issue
- Capital Expenditure for setting up of New Strapping Line.
- Repayment of certain secured borrowings in full.
- General corporate expenses and issue expenses.
IPO Timetable
| IPO Opening date | 16 May 2023 |
| IPO Closing | 19 May 2023 |
| Basis of Allotment | 24 May 2023 |
| Initiation Refund | 25 May 2023 |
| Credit to Demat Account | 26 May 2023 |
| Listing Date | 29 May 2023 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹17.93 Cr – 3,320,000 shares |
| Fresh Issue | ₹17.93 Cr – 3,320,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹51 to ₹54 per share |
| Lot size | 2000 Shares |
| Retail Allocation | 35% |
| Listing Exchange | NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹108,000 |
| Retail (Max) | 1 | 2000 | ₹108,000 |
| HNI (Min) | 2 | 4,000 | ₹216,000 |
Reservation Details
| QIB Shares Offered | 35 % |
| NII (HNI) Shares Offered | 15 % |
| Retail Shares Offered | 50 % |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | Up to 15 Feb 2023 | |
| Revenue | 96.09 | 941.05 | 1,861.12 | 6,341.34 |
| Expenses | 322.68 | 1,038.30 | 1,700 | 5,430.48 |
| Net income | (223.92) | (67.25) | 150.54 | 785.75 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | (7.43) | (2.33) | 3.01 |
| PE ratio | – | – | – |
| RONW (%) | (3.48) | 0.58 | 0.94 |
| NAV | 2.13 | (3.99) | 3.19 |
| EBITDA (%) | NA | NA | 9.22 |
Company Promoters
- Mr. Lenin Krishnamoorthy Balamanikandan
Promoter Holding
| Pre Issue Share Holding | 86.34% |
| Post Issue Share Holding | 62.6% |
Lead Manager(s)
SHARE INDIA CAPITAL SERVICES PVT. LTD.
A-15, Sector-64,
Noida –201301, UP, India
Phone: +91-0120-4910000
Email: info@shareindia.com
Website: www.shareindia.com
IPO Registrar
PURVA SHAREGISTRY INDIA PRIVATE LIMITED
9, Shiv Shakti Industrial Estate, J. R. Boricha Marg,
Lower Parel (East) Mumbai 400011, Maharashtra
Phone: +91 022 2301 8261
E-mail: support@purvashare.com
Website: www.purvashare.com
Contact Details
KRISHCA STRAPPING SOLUTIONS LIMITED
Building 01b, Logos Mappedu Logistics Park Satharai Village,
Thiruvallur Taluk Thiruvallur District, Tamil Nadu 631203
Phone: +91 93449 91199
E-mail: cs@krishcastrapping.com
Website: www.krishcastrapping.com
Allotment Status
Krishca Strapping IPO allotment status will be available on Purva Sharegistry’s website. Click on this link to get allotment status.
Final thoughts
Krishca Strapping Solutions IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
