KP Green Engineering Limited files DRHP for SME IPO
KP Green Engineering Limited, part of the Gujarat-based KP Group, manufactures fabricated and hot-dip galvanized steel products has filed its draft red herring prospectus (DRHP) with Bombay Stock Exchange (BSE) t o raise funds through an initial public offering (IPO). The IPO, with a face value of Rs 5 per equity share, is entirely a fresh issue of up to 13.16 million shares with no offer of sale component. KP Green Engineering is the third offering from the KP Group after KP Energy Ltd came out in 2016 to raise Rs 6.44 crs and erstwhile KPI Global Infrastructure Ltd now KPI Green Energy Ltd came out for an IPO in 2019 to raise Rs 39.94 crs The issue is being made through the book-building process, wherein not more than 50% of the net issue shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the net issue shall be available for allocation to non-institutional investors, and not less than 35% of the net issue shall