PNN
New Delhi [India], September 6: The initial public offering (IPO) of Kahan Packaging will open for subscription on September 6 and conclude on September 8.
The SME IPO is proposed to list on the BSE SME platform. The company has fixed the price of its shares at Rs 80 in the primary market.
The issue size of the IPO is Rs 5.76 crore. Each lot has 1600 equity shares worth Rs 128,000.
The company is issuing 7,20,000 equity shares through the issue. Company has reserved 3,40,800 equity shares worth Rs 2,72,64,000 for Retail Individual Investor (RII). A total of 3,39,200 equity shares have been reserved for other than RII including NII and QIB worth Rs 2,71,36,000. For Market Maker (MM), the firm has reserved 40,000 equity shares worth Rs 32,00,000.
HEM Securities Limited is the Lead manager while Purva Sharegistry is the Registrar to the issue.
Kahan Packaging is an established manufacturer and supplier of Polymer based woven fabrics and bags.
It has a total production capacity of 2600 MT of PP Fabrics. The company's product portfolio caters to agro pesticides, cement, chemical, fertilizer and food products industry. 
The company's two manufacturing facilities are located in Thane, Maharashtra. 
Kahan Packaging has plans to diversify its products portfolio.
In the financial year 2022-23, the Kahan Packaging had reported a total revenue of Rs 1,751 lakhs with ROCE at 19.77 per cent and ROE at 85.28 per cent.
(Disclaimer: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)