KVS Castings Sets IPO Price Band at Rs 53-56

KVS Castings, recognized for precision engineering components, has announced its Initial Public Offering (IPO) set between Rs 53-56 per share. The offer aims to raise Rs 27.8 crore, with subscriptions open from September 26 to September 30.

The IPO, entirely a fresh issue consisting of 49.70 lakh equity shares with a face value of Rs 10 each, will have a lot size of 2,000 shares. Anchor investors can bid starting September 25, the company confirmed.

The funds raised are earmarked for capital expenditures and corporate growth. KVS aims to bolster technological advancements across automotive, railways, and defense sectors, said MD Arpan Jindal. The company's shares will debut on BSE's SME platform, with Narnolia Financial Services and Nexgen Financial Solutions as facilitators.