Krishca Strapping Solutions Limited IPO

16 May 2023|

1 min read |

by ICICI Securities Team

Founded in December 2017, Krishca Strapping Solutions aims to provide total packaging solutions for the steel industry. The company started commercial production at their Chennai plant in March 2020.

Products

The Chennai plant has a capacity of 18,000 MT of steel straps and 80 million Seals per annum.

Krishca Strapping Solutions' product range includes:

PLC Controlled automatic production line
Automated heat treatment process – Uniform grain structure
Pollution free production process – Lead free
Super Jumbo coils up to 500 Kgs

IPO details

IPO subscription dates: May 16 to May 19, 2023

Price: Rs. 51-54 per share

Lot size: 2000 shares (i.e., Rs. 1,02,000 to Rs. 1,08,000)

IPO Objective

Capital Expenditure for setting up of New Strapping Line
Repayment of certain secured borrowings in full
General corporate expenses and issue expenses

Company Financials

Strengths

The company’s steel strap quality parameters are in line with the American, European and Indian standards.
The company provides its customers with the best quality, customised steel strapping and seal products.
It owns India’s first lead-free, environment-friendly production line and a state-of-the-art manufacturing facility in Chennai.

Major Business-Related Risk

The company had negative cash flow in the financial year 2020 and might experience similar negative cash flow.
The company does not own the registered office and the corporate office.
The company and/or Associate Company has not complied with certain statutory provisions under various laws and such noncompliance /lapses might attract certain penalties.
The company does not own the registered trademark, which might adversely affect the business in case of any misuse by a third-party.
They do not enter into long-term relationships with its customers and works on an order basis.

How to apply for a Quick IPO on ICICIdirect?

Select IPO

Go to the IPO section, select the IPO you want to apply for from the list, and click on ‘Apply’.

Fill in the required details

Fill in the number of shares you want to buy. To apply at maximum price, check the cut-off price box and amount is auto-calculated. If you want to apply at some other price within the price band, then you can enter the price manually by clicking on the “Add bid” option.

Confirm your request

Click on proceed to confirm the order. You can view the placed order under “Order book”. If you are applying using UPI, check the A/C and UPI details before clicking on proceed. You will get a UPI link through which the payment can be made.

Disclaimer

ICICI Securities Limited has its registered office at ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400025, India, Tel No:- 022 - 2288 2460, 022 - 2288 2470. The non-broking products / services like iLearn and Financial Learning are not exchange traded products / services and ICICI Securities Ltd. is just acting as a distributor/ referral Agent of such products / services and all disputes with respect to the distribution activity would not have access to Exchange investor redressal or Arbitration mechanism. iLearn is not an exchange traded product/service of ICICI Securities Ltd. All disputes with respect to the activity on the platform would not have access to Exchange investor redressal or Arbitration mechanism.

ICICI Securities Ltd. is a Member of National Stock Exchange of India Ltd (Member Code :07730), BSE Ltd (Member Code :103) and Member of Multi Commodity Exchange of India Ltd. (Member Code: 56250) and having SEBI registration no. INZ000183631. ICICI Securities Ltd. is a SEBI registered with SEBI as a Research Analyst vide registration no. INH000000990. Name of the Compliance officer (broking): Mr. Atul Agrawal, Contact number: 022-69997051, E-mail address: complianceofficer@icicisecurities.com Investments in securities markets are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. ICICI Securities Ltd. and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Such representations are not indicative of future results. The securities quoted are exemplary and are not recommendatory. AMFI Regn. No.: ARN-0845. PFRDA registration numbers: POP no -05092018. ICICI Securities Ltd. acts as a Composite Corporate agent having registration number -CA0113. Mutual Fund Investments are subject to market risks, read all scheme related documents carefully. Please note, Mutual Fund, Corporate Fixed Deposits, Bonds, Alternate investment funds, Tax planning, Succession planning, NPS, IPO, Investment Advisory and Loans related services are not Exchange traded products and ICICI Securities Ltd. is acting as a distributor to solicit these products. Please note, Insurance related services are not Exchange traded products and ICICI Securities Ltd. is acting as a corporate agent to solicit these products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism. The non-broking products / services like Research, etc. are not exchange traded products / services and all disputes with respect to such activities would not have access to Exchange investor redressal or Arbitration mechanism. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investors should consult their financial advisers whether the product is suitable for them before taking any decision. The contents herein mentioned are solely for informational and educational purpose.

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