Public Market

IPO

Bottle caps maker Cool Caps' Rs.11.63 Cr IPO subscribed 7.5 times

Press Release  

The IPO of Cool Caps Industries Ltd was subscribed 7.5 times by the end of the book building process. The allocation for high networth individuals (HNIs) was subscribed 4.46 times whereas the retail portion fetched bids for 11.25 times. The INR 11.63 crore IPO of Cool Caps was open for subscription between March 10-15. Cool caps sold 30,60,000 equity shares with a single lot consisting of 3,000 equity shares.The company has fixed the price band between INR 36-38 apiece. Company shares will be listed on the Emerge platform of NSE. The net proceeds from the IPO will be used to meet working capital requirements and for general corporate purposes. Holani Consultants is the lead manager to the issue and Link Intime India Ovt Ltd is the registrar. Kolkata-headquartered Cool Caps manufactures bottle caps and closures which include soda bottle caps, soft drink bottle caps, mineral water bottle caps, juice bottle caps and closures. It has manufacturing units at Howrah in West Bengal and at Kotdwar in Uttarakhand. The consolidated Sales of the company for the year ended on March 31, 2021 stood at INR. 31.3 crore, with a net profit of INR 2.91 crore.