ENA MSME 2024-07-24 16:57:32 <p><span style="font-size:14px"><strong>New Delhi, Jul 24 (KNN)</strong> Kataria Industries, a manufacturer of pre-stressed concrete strands and related products, made a notable debut on the National Stock Exchange's Small and Medium Enterprise (NSE SME) platform on Wednesday.</span></p> <p><span style="font-size:14px">The company's shares opened at Rs 182.4, representing a 90 per cent premium over the initial public offering (IPO) issue price of Rs 96 per share.</span></p> <p><span style="font-size:14px">The IPO, which comprised a fresh equity sale of 56.85 lakh shares, garnered significant investor interest, achieving an oversubscription rate exceeding 300 times.</span></p> <p><span style="font-size:14px">This strong demand was primarily driven by non-institutional investors. Prior to the listing, shares of Kataria Industries were trading at a premium of Rs 105 in the unlisted market.</span></p> <p><span style="font-size:14px">The company plans to utilise the net proceeds from the IPO for various purposes, including capital expenditure for plant and machinery, debt repayment, and general corporate requirements.</span></p> <p><span style="font-size:14px">Kataria Industries specialises in the production and supply of low relaxation pre-stressed concrete (LRPC) strands, steel wires, post-tensioning (PT) anchorage systems, HDPE single wall corrugated (SWC) sheathing ducts, couplers, and aluminium conductors.</span></p> <p><span style="font-size:14px">The company's product portfolio caters to diverse sectors such as infrastructure, transportation, construction, and power transmission.</span></p> <p><span style="font-size:14px">Operating two manufacturing facilities in Ratlam, Madhya Pradesh, Kataria Industries has steadily expanded its production capacity.</span></p> <p><span style="font-size:14px">In fiscal year 2020, the company increased its wire division capacity from 7,830 MT to 19,830 MT, followed by a further expansion to 38,000 MT in fiscal year 2022.</span></p> <p><span style="font-size:14px">Over the past three years, Kataria Industries has established a market presence both domestically and internationally, with exports to countries including Dubai, Qatar, Nepal, Iran, Oman, Bahrain, and Brazil.</span></p> <p><span style="font-size:14px">The company's listing comes at a time when India's engineering sector, which accounts for 27 per cent of the total factories in the industrial sector and 63 per cent of overall foreign collaborations, continues to play a significant role in the country's economic landscape.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38727 https://knnindia.co.in/news/newsdetails/msme/kataria-industries-debuts-on-nse-sme-platform-with-90-premium-over-ipo-price 2024-07-24 16:57:32 knnindia.co.in