Kew Industries IPO opens on Aug 28

KEW Industries proposes to enter the capital market on August 28 with a fixed price public issue of 70,00,000 equity shares of Rs 10 each at a price of Rs 30 aggregating Rs 21 crore.

The company intends to utilise a part of the proceeds of the issue for modernisation and expansion of manufacturing facility and expansion of R&D facilities, according to an official release issued today.

A manufacturer and supplier of defence stores and automobile components for OEMs, the company's major client portfolio includes Ashok Leyland, Tata Motors, Punjab Tractors, Indian Ordinance Factories and Rail Coach Factory, Kapurthala.

The issue closes on September 1 and constitutes 54.33% of the fully diluted post-issue paid-up capital of the company.

Chartered Capital and Investments Limited and Keynote Corporate Services Limited are the lead managers to the issue and Karvy Computershare is the registrar.