Konstelec Engineers IPO: A Comprehensive Guide to Bidding, Pricing, and Listing
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| Konstelec Engineers IPO: A Comprehensive Guide to Bidding, Pricing, and Listing |
The much-anticipated initial public offering (IPO) of Konstelec Engineers is set to open for bidding on January 19, 2024. This article provides a detailed overview of the IPO, including the price band, lot size, and key details surrounding the bidding process.
Konstelec Engineers IPO Details
On January 19, 2024, Konstelec Engineers will initiate its IPO with shares priced in the fixed band of Rs 66-70 each. Investors can bid for the shares until January 24, 2024. The lot size for this offering is 2,000 equity shares.
About Konstelec Engineers
Established in December 1995, Konstelec Engineers operates in the engineering, procurement, and construction (EPC) space. The company's comprehensive services encompass engineering and drawings, procurement, operations and maintenance, project management, and construction and commissioning.
Financial Overview
As of September 30, 2023, Konstelec Engineers reported a net profit of Rs 4.56 crore and a revenue of Rs 94.34 crore. The company's expertise spans electrical installation, solar power plant installation, instrumentation, and automation. With a successful track record of over 200 projects, including major ventures valued at over 400 crores, Konstelec Engineers serves clients in more than 15 states in India and Nigeria.
IPO Fund Utilization
The IPO aims to raise a total of Rs 28.70 crore, consisting of 41 lakh equity shares. The net proceeds will be utilized for working capital requirements, general corporate purposes, and to cover Public Issue Expenses. Konstelec Engineers' promoters, Biharilal Ravilal Shah and Mr. Amish Biharilal Shah, are at the helm of the company.
Clientele and Projects
Noteworthy clients of Konstelec Engineers include Reliance Industries, Engineers India, JSW Steel, Indian Oil, and many more. The company has completed diverse projects for esteemed organizations like Indian Space Research Organisation (ISRO), ACC, BARC, and Dangote Industries.
Reservation Details
Market maker portion is reserved with SpreadX Securities, while 50% of the net offer is allocated for qualified institutional bidders (QIBs). Non-institutional investors (NIIs) have a 15% share, and the remaining 35% is earmarked for retail investors.
Key Dates and Entities
Beeline Capital Advisors serves as the book running lead manager, and Skyline Financial Services acts as the registrar for the Konstelec Engineers IPO. The listing is anticipated on the emerge platform of the NSE, with January 29, 2024, as the tentative date.
Conclusion
The Konstelec Engineers IPO presents a significant investment opportunity in the EPC sector, backed by a robust track record and a strategic plan for fund utilization. Investors looking to participate in this offering should consider the outlined details and the company's impressive project portfolio.
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