Gujarat: KP Green Engineering Limited Makes Historic BSE Listing Debut In Surat

Gujarat: KP Green Engineering Limited Makes Historic BSE Listing Debut In Surat

In a remarkable milestone for both KP Green Engineering Limited and the city of Surat, the much-anticipated BSE listing ceremony unfolded at the Surat International Exhibition and Convention Centre.

Melvyn ThomasUpdated: Friday, March 22, 2024, 02:07 PM IST
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KP Green Engineering Limited Makes Historic BSE Listing Debut In Surat |

Gujarat: For the first time in the corporate history of the diamond city in Surat, the BSE listing ceremony of the KP Green Engineering Limited was held in Surat amid the presence of Dr. Faruk G Patel, chairman and managing director of KP Group based in Surat, managing director of BSE Ajay Thakur, KP Group brand ambassadors--Actor Suraj Pancholi and former Indian cricketer Munaf Patel—at the Platinum Hall of the Surat International Exhibition and Convention Centre (SIECC) at Surat on Friday.

In a remarkable milestone for both KP Green Engineering Limited and the city of Surat, the much-anticipated BSE listing ceremony unfolded at the Surat International Exhibition and Convention Centre. Amidst a prestigious gathering, including luminaries such as Dr. Faruk G Patel, Chairman and Managing Director of KP Group, and BSE Managing Director Ajay Thakur, the event marked a significant moment in the corporate annals of Surat.

The market buzz surrounding KP Green Engineering was palpable as the company's share price surged in its debut on the BSE SME platform. Listing at Rs 210, a remarkable premium of 41.89% over the issue price, the company's shares witnessed an upper circuit, with transactions exceeding 1 crore shares—an unprecedented feat in the SME IPO history.

KP Group's Success

KP Group, renowned for its leadership in the renewable energy sector, now proudly boasts three listed companies on the BSE, with KP Energy and KP Green Energy preceding KP Green Engineering. With a cumulative market capitalization of approximately Rs 13,000 crore, KP Group continues to be a trailblazer in the Indian corporate landscape.

Expressing his gratitude, Dr. Faruk G Patel, CMD of KP Group, remarked, “We are overwhelmed by the immense trust and confidence bestowed upon us by market investors. The oversubscription of our shares by 29.58 times since the launch on March 15 on the SME BSE Platform is a testament to the faith in KP Group's vision and capabilities.”

Established in 2001, KP Green Engineering has carved a niche for itself through its expertise in crafting hot-dip galvanized steel items. The company's product portfolio spans lattice tower structures, substation structures, solar module mounting structures, cable trays, earthing strips, beach crash barriers, and various infrastructure solutions. Additionally, KP Green Engineering offers Fault Rectification Services (FRT) for optical fiber cables, galvanizing job work, and solar installation services.

Dr. Patel further elucidated, “The monumental success of KP Green Engineering's IPO, with a valuation of Rs 189.50 crore against a bid of Rs 3,727 crore, reflects our commitment to excellence and innovation. As we embark on expanding our operations with a new factory in Matar village near Bharuch, aimed at achieving a production capacity of 2.94 lakh metric tons, our journey of growth and expansion continues.”

Endorsed by esteemed entities such as Gujarat Energy Transmission Corporation Limited (GETCO) and Maharashtra State Electricity Transmission Company (MSETCL), KP Green Engineering caters to transmission requirements of up to 400 Kw and 220 Kw, respectively.

For the six-month period ending in September, KP Green Engineering reported robust revenue from operations amounting to Rs 103.93 crores, coupled with a commendable profit after tax standing at Rs 11.27 crore—a testament to its unwavering commitment to excellence and sustainable growth.

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