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Saturday, July 16, 2016

A new sector joins the NSE EMERGE platform

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
Rs 320
No. of Times Oversubscribed
Book Running Lead Manger
Karvy Investment Banking

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A new sector joins the NSE EMERGE platform Reviewed by Investment Guru on July 16, 2016 Rating: 5 A new sector joins the NSE EMERGE platform South based KKVAgro Powers becomes  the first renewable energy sector company to list M...

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