Karamtara Engineering set to list with estimated ₹294 opening price
Karamtara Engineering, known for its work in renewable energy and transmission products, was set to list today.
Shares were estimated to open around ₹294 based on a gray market premium of 16%, and the company's IPO was a hit, subscribed 66.01 times overall between September 9 and 11.
With a gray market premium of 16%, it's clear investors were excited and expecting the stock to list above its ₹241 to ₹254 price range.
Karamtara Engineering IPO to raise ₹875cr
The IPO aimed to raise ₹875 crore, with most funds set aside for paying off debt and fueling future growth.
Big investors went all in: institutional buyers oversubscribed by a massive 168.19 times in the QIB (Ex Anchor) category!
Karamtara already exports to more than 50 countries and plans to use the remaining proceeds for general corporate purposes.
This strong start on the market could mean new opportunities (and bigger ambitions) for the company ahead.