The Kalana Ispat Limited IPO, which opened for subscription on September 19, 2024, has attracted significant attention from investors. By the second day, the IPO was subscribed 3.57 times, driven mainly by retail investors, who subscribed at 6.3 times the reserved portion. The public issue aims to raise ₹32.59 crore, with shares priced at ₹66 each.
Kalana Ispat Limited IPO Details
In the grey market, the premium (GMP) is holding steady at ₹35 per share, indicating a possible listing price of ₹101. This reflects a 53% premium over the issue price, demonstrating strong investor confidence. The funds raised from the IPO will be directed towards expansion plans, including setting up solar power infrastructure and a rolling mill.
This overwhelming response from investors highlights optimism in the company’s growth potential, especially in the infrastructure and power sectors. The IPO closes on September 23, 2024, and the listing is expected to bring strong gains for early investors.
Investors should keep an eye on the final subscription numbers and the GMP for further insights into the stock’s performance post-listing.
