Konstelec Engineers IPO: Check Out Lot Size, Minimum Bid Amount & More

Konstelec Engineers Limited opened its initial public offering (IPO) for subscription on January 19, 2024, and the issue will remain open until January 23, 2024. This IPO, valued at Rs 28.7 crore, is entirely a fresh issue comprising 41 lakh shares. The company has set the price band for the offer at Rs 66 to Rs 70 per share. Investors have the option to bid for a minimum of 2,000 shares and in multiples thereafter. Konstelec Engineers is expected to list on the NSE SME platform on January 29.

About the company

Konstelec Engineers Limited is an EPC company, providing cutting-edge services and solutions in the Electrical, Instrumentation, and Automation space. It plans to grow both organically and inorganically, through strategic tie-ups and joint ventures – both locally and globally, especially in the Middle East and North Africa region.

Price Band

The company has set the price band for the offer at Rs 66 to Rs 70 per share.

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Issue Size

The IPO is entirely a fresh issue of 41 lakh shares.

Lot Size

Investors can bid for a minimum of 2,000 shares and in multiples thereof.

Company Financials

IPO Reserve Portion

• Qualified Institutional Buyers: 7,78,000 shares or 18.98 percent
• Non-institutional Investors: 5,86,000 shares or 14.29 percent
• Retail Investors: 13,64,000 shares or 33.27 percent
• Anchor Investors: 11,66,000 shares or 28.44 percent

Objectives of the Issue

The company will utilize the proceeds from the IPO to fulfill capital requirements, settle issue expenses, and allocate the remaining funds towards general corporate purposes.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.