A
new sector joins the NSE EMERGE platform
South
based KKVAgro Powers becomes
the first renewable energy sector company to list
Mumbai: India’s largest
stock exchange The National Stock Exchange of India (NSE) today
has listed the first renewable energy sector company KKV Agro Powers Limited on
its SME platform- NSE EMERGE.
The listing
also signifies India's thrust and growing interests in the green energy
business. KKV Agro Powers becomes the 39th company to join the NSE Emerge
platform and is an emerging SME company from Tamil Nadu, with ongoing projects
in places like Pollachi, Tirunelveli, Kangeyam, Palladam etc.
The
IPO was worth Rs 3.58 crores and issue opened from June 30, 2016 to July 07,
2016. The issue got subscribed 2.04 times.
According
to company documents KKV Agro Powers is engaged in the business of power
generation through wind and solar. “We are witnessing a significant surge in
interestsfrom the SME companies from South and other parts of India.
NSE is committed
towards creating a conducive environment to support the unique listing
requirements of these companies”, said Mrs. Sunitha Anand, Regional Head -
South, NSE. “We are happy to list our shares at NSE Emerge Platform. With the
help of NSE's Emerge platform we wish to expand our reach and brand value.
Subsequently we wish to migrate to the NSE's main board”, said MR. T.K.
Chandiran, promoter, KKV Agro Powers Limited. The current management of the
company earlier established brands like The Chennai Silks,
SreeKumaranThangaMaligai etc.
Currently
NSE is in talks with various companies to list on NSE Emerge platform across
India. These companies represent various sectors like auto and auto ancillary,
healthcare, IT, electrical appliances, engineering consultancy services, FMCG,
textile, reality, renewable energy etc.
Till date, NSE Emerge platform has
helped SMEs to raise Rs. 208 cr till now. While combined market cap is
around Rs. 745 Cr. Once a listed SME company
attains a certain size, it can migrate to the mainboard.
|
Name of Company
|
KKV Agro Powers Limited
|
|
Issue Size (value)
|
Rs 3.58 crores
|
|
Offer Open Date
|
30 June 2016
|
|
Offer Close Date
|
7 July 2016
|
|
Price/Share
|
Rs 320
|
|
No. of Times Oversubscribed
|
2.04
|
|
Book Running Lead Manger
|
Karvy Investment Banking
|
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