KPI Global Infrastructure IPO – Review, Allotment, Subscription & DRHP
Last Updated Date: Nov 17, 2022KPI Global Infrastructure 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 Captive Power Producer (“CPP”). KPI Global Infrastructure IPO comprises of 4,992,000 Equity Shares at Issue Price of Rs 80 Per Equity Share.
Let’s have a detailed review of the company and analytics of the KPI Global Infrastructure IPO release date, IPO offer price, subscription, KPI Global Infrastructure IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
KPI Global Infrastructure IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 8.5/10 |
| Industry Ranking | 7.8/10 |
| Company Background | 7.9/10 |
| Company Reputation | 7.9/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.8/10 |
| Popularity Index | 8.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.9/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 8.1/10 |
| Star Ratings | ★★★★☆ |
Summary of KPI Global Infrastructure IPO
KPI Global Infrastructure are 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 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 . The Issue comprises of a Public Issue of 4,992,000 Equity Shares at Issue Price of Rs 80 Per Equity Share.
From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,
For the period ended March 31, 2018, FY 2016-17 and FY 2015-16, its revenue from operations was Rs. 3,159.89 Lakhs, Rs. 2,602.09 Lakhs and Rs.2,751.12 Lakhs, respectively representing growth of 21.40% from the FY 2018-17 to FY 2016-17. For the period ended March 31, 2018, FY 2016-17 and FY 2015-16 our net profit was Rs.756.91 Lakhs, Rs. 1,011.03 Lakhs and Rs.1,069.46 Lakhs, respectively .
- During the financial year 2017-18 the Other Income of our company increased to Rs.4.35 Lakhs as against Rs. 26.06 Lakhs for the financial year 2016-17 .
- Company’s Net Profit after tax for the year 2016-17 is Rs. 738.71 Lakhs from the year 2015-16 of Rs. 556.24 Lakhs showing an increase of 7.42% from last year, showing remarkable performance.
The Promoter of this company is Mr. Faruk G. Patel . The lead manager to the issue is Vivro Financial Services Private Limited and the Registrar to this issue is Bigshare Services Private Limited .
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KPI Global Infrastructure IPO Date
The opening and the closing date of KPI Global Infrastructure IPO is Jan 8, 2019 – Jan 11, 2019.
KPI Global Infrastructure IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| Day 1: Jan 8 | – | 1.24x | 1.92x | 1.58x |
| Day 2: Jan 9 | – | 1.91x | 2.43x | 2.17x |
| Day 3: Jan 10 | – | 3.10x | 4.05x | 3.57x |
| Day 4: Jan 11 | – | 12.42x | 10.24x | 11.50x |
| Day 5 | – | – | – | – |
| Shares Offered or Net Issue | – | 2,371,200 | 2,371,200 | 4,742,400 |
The shares subscribed by the public will be updated here.
KPI Global Infrastructure IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
| Basis of Allotment Finalization | 17-Jan-19 |
| Refunds Initiation | 18-Jan-19 |
| Credit of Shares to Demat Account | 21-Jan-19 |
| Share Listing Date | 22-Jan-19 |
KPI Global Infrastructure IPO Price Band
The face value of each share is Rs 10, but the Cash Price is Rs 80 Per Equity Share.
KPI Global Infrastructure IPO Equity Share Offering
4,992,000 Equity Shares of Rs 10/- each, at Issue Price of Rs 80 Per Equity Share, aggregating up to Rs 39.94 Crores. The Minimum Order Quantity or the Market Lot is 1600 Equity Shares, listed at BSE SME.
KPI Global Infrastructure – Company Overview
KPI Global Infrastructure are 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 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 our 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 our Solarism Plant .
The Company is promoted by Mr. Faruk G. Patel and is the guiding force behind the growth and strategic decisions of the Company.
Competitive Strengths of KPI Global Infrastructure:
- Established infrastructure for evacuating power
- Favorable geographical location of solar power plant
- Optimal design and structure of solar power plant
- Higher per unit revenue realization and assured revenue from PPAs
- Experienced Promoter and management team
Business strategies of KPI Global Infrastructure:
- Capitalizing on the growth opportunities available in the renewable energy sector
- Enhancement of installed capacity as an Independent Power Producer (IPP)
- Focus on sales from Captive Power Producer (CPP)
- Optimal utilization of resources
KPI Global Infrastructure – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus.
Financial Summary:
| Amount (in INR & Lakhs) | ||||
| 30-Sep-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Total Assets | 12,182.45 | 11,844.61 | 8,279.57 | 5,357.97 |
| Total Revenue | 1,820.80 | 3,158.28 | 2,602.09 | 2,751.12 |
| Total Expense | 1,279.87 | 1,933.90 | 1,236.95 | 1,601.58 |
| Profit After Tax | 387.17 | 1,140.92 | 812.49 | 767.97 |
Earnings per Equity Share (in Lakhs)
| 30-Sep-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 2.99 * | 9.39 | 7.95 | 8.09 |
- P/E at the Issue Price (no. of times) is 9.20
KPI Global Infrastructure IPO – Promoters
The Promoter of this company are:
- Mr. Faruk G. Patel
List of Related Parties (Key Managerial Personnel)
- Rajnikant Harilal Shah
- Pritiben Rajnikant Shah
- Rajnikant Harilal Shah Huf
- Rashida Gulam Patel
- Vahidabanu Faruk Patel
- Ayesha Faruk Patel
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
KPI Global Infrastructure IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Issue of up to 49,92,000 Equity Shares of Rs 10 each for cash at a price of Rs 80 per Equity Share aggregating up to Rs 3,993.60 Lakh. |
| Of which: | |
| Reserved for Market Makers | 2,49,600 Equity Shares of Rs 10 each for cash at a price of Rs 80 per Equity Share aggregating to Rs 199.68 Lakh. |
| Net Issue to the Public | 47,42,400 Equity Shares of Rs 10 each for cash at a price of Rs 80 per Equity Share aggregating to Rs 3,793.92 Lakh. |
| Of which: | |
| Retail Investors Portion | 23,71,200 Equity Shares of Rs 10 each for cash at a price of Rs 80 per Equity Share aggregating to Rs 1,896.96 Lakh. |
| Non-Retail Investors Portion | 23,71,200 Equity Shares of Rs 10 each for cash at a price of Rs 80 per Equity Share aggregating to Rs 1,896.96 Lakh. |
| 1,30,75,000 Equity Shares of Rs. 10 each | |
| Equity Shares outstanding after the Issue | 1,80,67,000 Equity Shares of Rs. 10 each |
KPI Global Infrastructure IPO Issue Object
These are the IPO Issue Objects of the company-
- To part finance setting up a 25 MW Solar Power Project at Sudi village, Samiyala village, Tanchha village located in Amod Tehsil in Bharuch district of Gujarat (“Proposed Project / Unit II”)
- For General Corporate Purposes
KPI Global Infrastructure IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Favorable geographical location of solar power plant
- Optimal design and structure of solar power plant
- Established infrastructure for evacuating power
- Higher per unit revenue realization and assured revenue from PPAs
- Experienced Promoter and management team
- Existing synergies within the Promoter Group
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | 8.09 | 56.64 % | – |
| 31-Mar-17 | 7.95 | 25.65% | – |
| 31-Mar-18 | 9.39 | 20.12% | 43.80 |
For the 6 months period April 1, 2018 to September 30, 2018^,Basic & Diluted EPS is 2.99 | RONW (%) is 28.05% |
KPI Global Infrastructure IPO Lead Managers
| Lead Managers |
| Vivro Financial Services Private Limited 607-608 Marathon Icon, Veer Santaji Lane, Opposite Peninsula Corporate Park, Off Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013, Maharashtra, India Telephone: +91-22-66668040; Fax: +91-22-6666 8047 Email: kpiglobal@vivro.net Website: www.vivro.net Investor Grievance Email: investors@vivro.net Contact Person: Mr. Anish Akruwala / Mr. Yogesh Malpani SEBI Registration Number: INM000010122 CIN: U67120GJ1996PTC029182 |
KPI Global Infrastructure IPO Registrar to offer
| Registrar to the Offer |
| Bigshare Services Private Limited 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai – 400059, Maharashtra, India Telephone: + 91-22-62638200; Fax: +91-22-62638299; Email: ipo@bigshareonline.com Website: www.bigshareonline.com Investor Grievance Email: ipo@bigshareonline.com Contact Person: Mr. Babu Raphael SEBI Registration Number: INR000001385 CIN: U99999MH1994PTC076534 |
Other Details:
- Statutory Auditor – M/s K A Sanghvi & Co. LLP, Chartered Accountants
- Peer Review Auditor – M/s K A Sanghvi & Co. LLP, Chartered Accountants
- Bankers to the Company – State Bank of India and Axis Bank Limited
KPI Global Infrastructure IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
KPI Global Infrastructure IPO Grey Market Premium
The KPI Global Infrastructure IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
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KPI Global Infrastructure IPO News
News 1 – IPO ISSUE OPENS SOON (Download Prospectus)
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