Surat Headquartered KPI Global Infrastructure Limited got a tremendous subscription for its IPO on SME exchange of BSE. The issue was subscribed 10.91 times on day four at 5:30 pm with retail portion oversubscribing by 10.21 times and QIB & HNI portion combined subscribed by 12.65 times. Market maker portion was subscribed 1 time.
The IPO moped a demand of Rs. 436 crore till 05:30 pm on the last day making it one of the most successful money raising issue in recent times. The issue got close to 15,370 applications which is one of the biggest in SME sector.
KPI Global Infrastructure Limited, which for the maiden IPO of calendar year 2019 opened on January 8, 2019 with a price band of Rs.80 per Equity Share of face value of Rs. 10 each of the Company.
Commenting on the response, Mr. Faruk Patel, Founder, KPI Global Infrastructure Limited, said, "We are overwhelmed by the record response we received from the investors for our IPO. It is a matter of honor KPI Global Infrastructure to be a part of the BSE SME. This would not have been possible without the trust shown by our investors. We are confident that together we will deliver value for all stakeholders in the times to come."
Vivro Financial Services Private Limited is the Lead Managers ("LM") to the Issue. The Registrar to the Issue is Bigshare Services Private Limited.
The Equity Shares of KPI Global Infrastructure Limited is proposed to be listed on SME Platform of BSE.