Kundan Edifice IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Kundan Edifice IPO will open on September 12 and close on September 15, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 25.22 crores through this public issue.
Kundan Edifice Limited (“the Company”)
Kundan Edifice Limited was incorporated in 2010. The company has focused its business operations on the manufacturing, assembly, and sale of light-emitting diode (“LED”) strip lights, and since then, they believe this is one of the most trusted electronics manufacturing services (“EMS”) companies for its customers by providing end-to-end solutions in its area of operation.
As an EMS company, they are primarily an original design manufacturer (“ODM”) and design, develop, manufacture, and supply products to customers who further distribute them under their own brands.
The company also works with its customers to develop, manufacture, and supply products that they design. The company focuses on an unconventional form of lighting products, i.e., LED strip lights, that have varied applications across industries such as real estate, railways, automobiles, decorative lighting, etc.
Company has over six years of experience in the EMS sector. Since fiscal 2016, they have expanded their product portfolio within their primary product and customer base and gained technological expertise in the design and manufacturing of their products.
The company has a history of high customer retention. In the nine-month period ended December 31, 2022, and for the fiscal years 2022, 2021, and 2020, the company derived approximately 45.20%, 65.31%, 62.27%, and 36.68%, respectively, of its restated revenues from operations from repeat customers (defined as customers from which they have had revenues in the past three fiscal years). In fiscal 2022, the company enjoyed relationships spanning over three years with five out of these top ten customers.
The company has two manufacturing and assembly facilities in the state of Maharashtra, with one located in Vasai and the other in Bhiwandi (collectively “manufacturing facilities”).
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Meeting incremental working capital requirements; and
- General corporate purposes.
Financial Highlights (Restated)
| Particulars | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|
| Net Worth | 297.72 | 129.90 | 27.68 |
| Total Assets | 1,928.14 | 1,185.44 | 846.60 |
| Reserve & Surplus | (2.28) | (170.10) | (247.32) |
| Total Borrowings | 905.03 | 728.65 | 636.89 |
| Total Revenue | 3,250.60 | 1,522.43 | 649.70 |
| Profit After Tax | 167.82 | 77.22 | 4.05 |
IPO details
| Issue Type | Fixed Price Issue IPO |
| IPO Price | ₹ 91 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 1,200 shares |
| Issue Size | [.] shares (aggregating up to ₹ 25.22 crores) |
| Fresh Issue | [.] shares (aggregating up to ₹ 25.22 crores) |
| Listing At | NSE SME |
IPO Reservation
| No. of shares offered | |
|---|---|
| Other shares offered | 50% of the net offer |
| Retail shares offered | 50% of the net offer |
GMP: Kundan Edifice 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: Kundan Edifice IPO
The issue opens for subscription on September 12, 2023, and closes for subscription on September 15, 2023 (both days inclusive). The basis of allotment will be finalised on September 21, 2023, and the refunds will be initiated on September 22, 2023. In addition, the demat credits are expected to happen on September 25, 2023, and the stock will be listed on the NSE SME on September 26, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | September 12, 2023 |
| Closing Date | September 15, 2023 |
| Basis of Allotment | September 21, 2023 |
| Initiation of Refunds | September 22, 2023 |
| A credit of shares to Demat A/c | September 25, 2023 |
| Listing Date | September 26, 2023 |
Lot Size
The lot size of the Kundan Edifice IPO is 1,200 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,200 shares of ₹ 109,200.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 1,200 | ₹ 109,200 |
| Retail (Maximum) | 1 | 1,200 | ₹ 109,200 |
| HNI (Minimum) | 2 | 2,400 | ₹ 218,400 |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Kundan Edifice Limited Gala A/ B, Ganesh Industrial Estate, behind Burma Shell Petrol Pump, Vasai East, Palghar – 401208 Phone: +91 7030919707 Email: cs@kundanedifice.com Website: http://www.kundanedifice.com/index.php |
| IPO Registrar | Cameo Corporate Services Limited Phone: +91-44-28460390 Email: priya@cameoindia.com Website: https://ipo.cameoindia.com/ |
| IPO Lead Manager(s) | Fedex Securities Pvt Ltd |
FAQs
What is Kundan Edifice’s IPO price?
The Kundan Edifice IPO price is ₹ 91 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 Kundan Edifice IPO contains 1,200 shares of ₹ 109,200.
When will the Kundan Edifice IPO allotment be available?
The finalisation of the basis of allotment for the Kundan Edifice IPO will be done on September 21, 2023, and the allotted shares will be credited to your demat account by September 25, 2023. Check the Kundan Edifice IPO allotment status.
When will the Kundan Edifice IPO be listed on exchanges?
The Kundan Edifice IPO shares listing date is September 26, 2023.
