The scrip was listed at Rs 110.2, at a premium of 90% to the issue price. The scrip hit a high of Rs 115.71 and a low of Rs 110.20. About 8.10 lakh shares of the company changed hands at the counter.
The initial public offer (IPO) of Kaka Industries was subscribed 194 times. The issue was open between 10th and 12th July 2023. The IPO price band was fixed at Rs 55-58 per share.
The IPO comprised fresh issue of 36,60,000 equity shares. The promoter and promoter group shareholding diluteed to 69.78% post IPO from 95.32% pre-IPO.
The company intends to utilize the net proceeds to meet working capital requirements, repayment and/or pre-payment, in full or part, of certain borrowings availed by company and general corporate purpose.
Kaka Industries focused primarily on manufacturing of polymer-based profiles which finds application in doors, windows, partitions, false ceilings, wall paneling, kitchen cabinets & other interior and exterior works product portfolio has over 1200 SKU's covering PVC Profile, uPVC door & window profile, WPC Profile & sheet in various sizes, specifications and colours. It is also engaged in fabrication of factory-made PVC & Solid PVC doors except for WPC (Wood-polymer composite) profile and doors. The company has three manufacturing units in village Zak, Gandhinagar district, Gujarat.
The company recorded a revenue from operations of Rs 158.49 crore and net profit of Rs 7.18 crore for the period ended on 31 March 2023.