Karnika Industries IPO Detail 2023
Introduction
The Karnika Industries IPO will open on September 29 and close on October 4, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 25.07 crore through this public offering, consisting of 32.99 lakh shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 76 per share.
Karnika Industries Limited (“the Company”)
Incorporated in 2017. The company is an ISO 14001:2015-certified manufacturer, trader, and exporter of garments. They basically manufacture through job work all types of kids’ wear, i.e., shorts, joggers, capris, tees, rompers, sleepsuits, pajamas, winter wear, infant wear, etc.
Karnika Industries Limited has constructed well-established manufacturing units for the design, preparation of the sample, quality inspection, ironing, and packing of garments that are equipped with all the necessary hi-tech machines and tools that are required for a modern manufacturing unit.
They manufacture the majority of their products through job work; they are capable of undertaking bulk requirements for their clients and delivering them within the stipulated time schedule.
Objects of the Issue,
- To Meet Working Capital Requirement.
- General Corporate Purpose.
- To Meet the Issue Expenses.
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|
| Net Worth | 1,806.83 | 1,860.88 | 378.14 |
| Total Assets | 10,071.04 | 5,921.42 | 3,055.87 |
| Reserve & Surplus | 896.80 | ||
| Total Borrowings | 5,245.53 | 2,224.13 | 1,570.94 |
| Total Revenue | 12,605.62 | 9,892.52 | 4,779.31 |
| Profit After Tax | 826.74 | 454.01 | 81.61 |
IPO details
As per the DRHP filed with SEBI, 32.99 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 1.66 lakh shares of the offering. While Beeline Capital Advisors Pvt Ltd will be the lead manager for the IPO, Skyline Financial Services Private Ltd will be the registrar. It will be a Fixed Price Issue IPO, so the price at which the securities are offered or allotted is known in advance to the investor.
| Issue Type | Fixed Price Issue IPO |
| IPO Price | ₹ 76 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 1,600 Shares |
| Issue Size | 3,299,200 shares (aggregating up to ₹ 25.07 crores) |
| Fresh Issue | 3,299,200 shares (aggregating up to ₹ 25.07 crores) |
| Listing At | NSE SME |
Market Maker detail
| Market maker | Spread X Securities |
| Market maker portion | 166,400 shares |
Shareholding Pattern
| Shareholding pre-issue | 9,100,300 |
| Shareholding post issue | 12,399,500 |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| Others shares offered | 50% of the net offer |
| Retail shares offered | 50% of the net offer |
GMP: Karnika Industries IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates
The issue opens for subscription on September 29, 2023, and closes for subscription on October 4, 2023 (both days inclusive). The basis of allotment will be finalised on October 9, 2023, and the refunds will be initiated on October 10, 2023. In addition, the demat credits are expected to happen on October 11, 2023, and the stock will be listed on the NSE SME on October 12, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | September 29, 2023 |
| Closing Date | October 4, 2023 |
| Basis of Allotment | October 9, 2023 |
| Initiation of Refunds | October 10, 2023 |
| A credit of shares to Demat A/c | October 11, 2023 |
| Listing Date | October 12, 2023 |
Lot Size: Karnika Industries IPO
The lot size of the Karnika Industries IPO is 1,600 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,600 shares of ₹ 121,600.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 1,600 | ₹ 121,600 |
| Retail (Maximum) | 1 | 1,600 | ₹ 121,600 |
| HNI (Minimum) | 2 | 3,200 | ₹ 243,200 |
Promoters Holdings
Mr. Niranjan Mundhra, Mr. Shiv Shankar Mundhra, and Mr. Mahesh Kumar Mundhr are the promoters of the company.
| Pre-issue Shares Holdings | 100.00% |
| Post-issue Shares Holdings | 73.39% |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Karnika Industries Limited 6&6/1, Gurgola Ghat Road P.O. Salkia Howrah – 711106 Phone: 033-26558101 Email: info@karnikaindustries.com Website: http://www.karnikaindustries.com/Default/Index |
| IPO Registrar | Skyline Financial Services Private Ltd Phone: 02228511022 Email: ipo@skylinerta.com Website: https://www.skylinerta.com/ipo.php |
| IPO Lead Manager(s) | Beeline Capital Advisors Pvt Ltd |
FAQs
What is Karnika Industries’s IPO price?
The Karnika Industries IPO price is ₹ 76 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Karnika Industries IPO contains 1,600 shares of ₹ 121,600.
When will the Karnika Industries IPO allotment be available?
The finalisation of the basis of allotment for the Karnika Industries IPO will be done on October 9, 2023, and the allotted shares will be credited to your demat account by October 11, 2023. Check the Karnika Industries IPO allotment status.
When will the Karnika Industries IPO be listed on exchanges?
The Karnika Industries IPO shares listing date is October 12, 2023.
