Kritika Wires raises INR 15.4 crore from IPO

 

Kritika Wires Limited, a leading manufacturing high quality galvanized steel wires and wire products get listed on Emerge platform of National Stock Exchange today at a premium of 6.5%.

Kritika wire Limited’s IPO opened on September 26, 2018 and closed on October 1, 2018 at a price band of Rs. 32 per share. The Initial Public Offering of Kritika wires got a tremendous response by all the categories and were oversubscribed 189% or 1.89 times. The company raised Rs. 15.40 crore from the market.

Commenting on the successful IPO and Listing, Hanuman Prasad Agarwal, Managing Director, Kritika Wires Limited, said, “We are overwhelmed by the response to our IPO by the investors. We would like to thank the public and the investors for trusting our business profile and believing in our growth trajectory. My entire team, our associates, clients and partners who supported us in this growth journey. We couldn’t have done this without their support and encouragement. I am sure we shall be able to meet investors ‘ expectations”

Commenting on successful listing of Kritika Wires, Prateek Jain, Director, HEM Securities Limited, BRLM to Kritika Wires, said,” It’s our honor to take Kritika Wires Limited public. Because of the strong business model of the company we were very confident about the good performance of the IPO in the current market condition. The strip listed at a premium of close to 7% in this depressed market showing the potential of the company.

About Kritika Wires Limited

Kritika Wires Limited has been in the business of manufacturing high quality galvanized steel wires and wire products and have been meeting the requirement of various clients in the government and private sectors like power, infrastructure, railway, and many more industries.

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