Karnika Industries Limited IPO Detail
Incorporated in 2017, Karnika Industries Limited, previously known as Karni International, manufactures and exports garments in India.
Karnika Industries manufactures all types of kids' wear i.e., shorts, joggers, capri, tees, rompers, sleepsuits, pajamas, winter wear, infant wear, etc. The company has well-established manufacturing units for designing, preparing 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.
The company sells its products under the brand KARNIKA and sub-categories as KARNIKA Care, KARNIKA Cool, KARNIKA Cube, KARNIKA Life, KARNIKA Key, KARNIKA Club.
Company Promoters
Mr. Niranjan Mundhra, Mr. Shiv Shankar Mundhra, and Mr. Mahesh Kumar MundhrIPO Details
| IPO Opening Date | Sep 29, 2023 |
| IPO Closing Date | Oct 05, 2023 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹76 per equity share |
| Market Lot | 1600 Shares |
| Min Order Quantity | 1600 Shares |
| Listing At | NSE SME |
| Issue Size | ₹25.07 Cr |
| Fresh Issue | ₹25.07 Cr |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 0.10x | 0.16x | 0.13x | |
| Day 2 | - | - | 0.03x | 0.46x | 0.24x | |
| Day 3 | - | - | 0.56x | 0.89x | 0.73x | |
| Day 4 | - | - | 3.22x | 2.91x | 3.07x |
IPO Tentative Timetable
The Karnika Industries Limited IPO open date is Sep 29, 2023, and the close date is Oct 05, 2023. The issue may list on Oct 12, 2023.
| IPO Open Date | Sep 29, 2023 |
| IPO Close Date | Oct 05, 2023 |
| Basis of Allotment Date | Oct 10, 2023 |
| Initiation of Refunds | Oct 11, 2023 |
| Credit of Shares to Demat Account | Oct 12, 2023 |
| IPO Listing Date | Oct 12, 2023 |
IPO Lot Size
The Karnika Industries Limited IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹121600).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹121600 |
| Maximum | 1 | 1600 | ₹121600 |
IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.39% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 3055.87 | 4779.31 | 81.61 |
| 31-Mar-22 | 5921.42 | 9892.52 | 454.01 |
| 31-Mar-23 | 10071.04 | 12605.62 | 826.74 |
Objects of the Issue:
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- To Meet Working Capital Requirement.
- General Corporate Purpose.
- To Meet the Issue Expenses.
Karnika Industries Limited IPO Registrar:
Skyline Financial Services Private Ltd
Karnika Industries Limited IPO Lead Manager(s):
Mr. Niranjan Mundhra, Mr. Shiv Shankar Mundhra, and Mr. Mahesh Kumar Mundhr
Company Contact Information:
Karnika Industries Limited
6&6/1,
Gurgola Ghat Road P.O. Salkia
Howrah - 711106
