KP Green Engineering is a solar power generating Company focused on providing solar power, both as an Independent Power Producer (“IPP”) under the brand name of ‘Solarism’ and as a Captive Power Producer (“CPP”). They build, own, operate, and maintain grid-connected solar power projects as IPP and generate revenue by entering into Power Purchase Agreements (“PPA”) with third parties for selling power units generated through their solar projects. They develop, transfer, operate, and maintain grid-connected solar power projects for CPP customers and generate revenue by selling these projects to third parties for their captive use requirements. Both these businesses, IPP and CPP, are currently carried out at their plant located at Sudi & Tanchha village, Amod, Bharuch, Gujarat (Solarism Plant). The Company has also established a ~13.25 km long 66 KV transmission line from their Solarism Plant to the Gujarat Energy Transmission Corporation Limited (“GETCO”) substation located at Amod, Bharuch, Gujarat (Amod Substation), for evacuation of the solar power generated at their Solarism Plant.
They propose to increase their solar power generation capacity by setting up another solar power project for 25 MW at Sudi, Samiyala & Tanchha village, Amod, Bharuch, Gujarat (Referred to as Unit II). The estimated cost of this project would be `13,203.76 Lakh and the proposed date of commercial commencement is July 2019. They have entered into either PPAs or Letter of Intent (LOI) with customers for the proposed sale of power of 25 MW. Post the commercial commencement, their total solar power generation capacity would increase to 40 MW.
They have entered into bilateral PPA’s for 3 years with reputed industrial consumers such as Mafatlal Industries Limited (for their two units located at Navsari and one unit located at Nadiad), Best Paper Mills Private Limited (for their two units located at Vapi) and Meghmani Organics Limited (for their three units located at Dahej, Ankleshwar and Panoli) for direct sale of the solar power generated at their Solarism Plant. The rate of their PPAs is currently at around ~` 6.58 per unit, which has been priced to arrive at an average of around 7% discount to the prevailing per unit price of the power rates of the DISCOMs, less other adjustments.
Objects of the Issue:
- Part finance the capital expenditure towards setting up of a new manufacturing unit to expand its current production capabilities as well as expanding our current product portfolio.
- General Corporate Purposes
KP Green Engineering IPO Review
- May Apply
KP Green Engineering IPO Date & Price Band Details
| IPO Open: | March 15, 2024 |
| IPO Close: | March 19, 2024 |
| IPO Size: | Approx ₹189.50 Crores, 1,31,60,000 Equity Shares |
| Face Value: | ₹5 Per Equity Share |
| IPO Price Band: | ₹137 to ₹144 Per Equity Share |
| IPO Listing on: | BSE SME |
| Retail Quota: | 35% of the net offer |
| QIB Quota: | 50% of the net offer |
| NII Quota: | 15% of the net offer |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors in IPO: | Click Here |
KP Green Engineering IPO Market Lot
The KP Green Engineering IPO minimum market lot is 1000 shares with a ₹144,000 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 1000 | ₹144,000 |
| Retail Maximum | 1 | 1000 | ₹144,000 |
| S-HNI Minimum | 2 | 2000 | ₹288,000 |
KP Green Engineering IPO Dates
The KP Green Engineering IPO date is March 15 and the IPO close date is March 19. The IPO allotment date is March 20 and the IPO might list on March 22.
| IPO Open Date: | March 15, 2024 |
| IPO Close Date: | March 19, 2024 |
| Basis of Allotment: | March 20, 2024 |
| Refunds: | March 21, 2024 |
| Credit to Demat Account: | March 21, 2024 |
| IPO Listing Date: | March 22, 2024 |
You can check IPO subscription status and IPO allotment status on their respective pages.
KP Green Engineering IPO Form
How to apply KP Green Engineering IPO? You can apply KP Green Engineering IPO via ASBA available in your bank account. Just go to the online bank login and apply via your bank account by selecting the KP Green Engineering IPO in the Invest section. The other option you can apply KP Green Engineering IPO via IPO forms download via the BSE website. Check out the KP Green Engineering forms – click BSE IPO Forms download, fill and submit in your bank or with your broker.
KP Green Engineering Company Financial Report
| ₹ in Crores | |||
| Year | Revenue | Expense | PAT |
| 2021 | ₹38.84 | ₹36.68 | ₹1.58 |
| 2022 | ₹78.42 | ₹72.33 | ₹4.54 |
| 2023 | ₹114.79 | ₹98.18 | ₹12.40 |
| 2023 6M | ₹104.14 | ₹88.96 | ₹11.27 |
KP Green Engineering IPO Valuation – FY2023
Check KP Green Engineering IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹3.46 per Equity Share |
| Price/Earning P/E Ratio: | NA |
| Return on Net Worth (RoNW): | 37.68% |
| Net Asset Value (NAV): | ₹9.18 per Equity Share |
Peer Group
- Salasar Techno Engineering Ltd
- Skipper Ltd
Company Promoters
- Dr. Farukbhai Gulambhai Patel
- Mr. Hassan Faruk Patel
KP Green Engineering IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: [email protected]
Website: http://www.bigshareonline.com
KP Green Engineering IPO Allotment Status
Check KP Green Engineering IPO allotment status on Bigshare website URL. Click Here
KP Green Engineering IPO Lead Managers aka Merchant Bankers
- Beeline Capital Advisors Private Limited
Company Address
KP Green Engineering Limited
‘KP House’, Opp. Ishwar Farm Junction BRTS
Near Bliss IVF Circle
Canal Road, Bhatar
Surat, Gujarat-395017, India
Website: www.kpgreenengineering.com
Phone : 0261 2244 757
E-Mail:[email protected]
