Water air purifier firm Kent RO Techniques Ltd has filed its draft papers with the Securities and Trade Board of India (SEBI) for an preliminary public providing (IPO) on Wednesday, January 22, 2025.
Kent’s income for the monetary yr 2023-24 had grown by 8.7% to ₹1,178 crore. Nevertheless, this trailed behind rival Eureka’s income of ₹2,189 crore.
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Kent is not going to be issuing new shares within the IPO and no proceeds might be gained from the IPO for the corporate.
Other than water purifiers, the corporate, which was based in 1999 additionally makes vacuum cleaners and followers. Nevertheless, water purifiers made for 85% of its whole ₹637 crore income throughout the first quarter of the monetary yr 2024-25.
Its income for the monetary yr 2023-24 had grown by 8.7% to ₹1,178 crore. Nevertheless, this trailed behind rival Eureka’s income of ₹2,189 crore.
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Mahesh Gupta might be promoting the biggest portion, with 5,635,088 fairness shares of face worth Re 1 every, whereas Sunita Gupta and Varun Gupta might be promoting 3,360,910 and 1,098,570 fairness shares, respectively, based on a Enterprise Commonplace report.
This comes at a time when India’s IPO market continues its increase into 2025. To this point, round 14 firms have already floated shares this yr, and in 2024, Indian companies collectively raised a report ₹1.6 lakh crore ($18.5 billion).
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Motilal Oswal Funding Advisors Ltd and JM Monetary Ltd. would be the book-running lead managers, whereas Kfin Applied sciences Ltd would be the registrar for the difficulty.