Ratlam-based Kataria industries to float Rs 54.5 cr IPO on July 16

Ratlam-based Kataria Industries has fixed the price band at Rs 91 to Rs 96 per share for its Rs 54.58-crore initial public offering, the company said on Sunday.

The initial public offering (IPO) will be available for public subscription during July 16-19 and the bidding for anchor investors will open on July 15, the company said in a statement.

The IPO is entirely a fresh issue of 56.85 lakh shares. The shares of the company will be listed on the NSE SME platform Emerge with a projected listing date of July 24, it added.

The IPO comprises 50 per cent of the net issue for Qualified Institutional Buyers (QIBs), 35 per cent for retail investors and 15 per cent of the net issue for the non-institutional investor segment.

The company proposes to utilise the net proceeds from the issue towards capital expenditure for plant and machinery, repayment of debt and general corporate purposes.

At the upper end of the price band, the company will fetch up to Rs 54.58 crore. Further, investors c