Kundan Edifice Limited IPO Detail
Incorporated in 2010, Kundan Edifice Limited is engaged in the business of manufacturing, assembly, and sale of light-emitting diode ("LED") strip lights.
Kundan Edifice is primarily an original design manufacturer ("ODM") and design, develop, manufacture, and supply products to customers who then further distribute these products under their own brands. The company also provides custom products. Its product list includes HV Flex- High voltage flex, LV Flex- Low voltage flex, RGB LV Flex (Smart Lights), and Accessories Kit.
The company has two manufacturing and assembly facilities in the state of Maharashtra located in Vasai and Bhiwandi. As of August 31, 2023, Kundan employs over 311 employees in its manufacturing facilities, including contract workers.
Company Promoters
Mr. Divyansh Mukesh Gupta and Mr. Vijaya Mukesh Gupta are the promoters of the company.IPO Details
| IPO Opening Date | Sep 12, 2023 |
| IPO Closing Date | Sep 15, 2023 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹91 per equity share |
| Market Lot | 1200 Shares |
| Min Order Quantity | 1200 Shares |
| Listing At | NSE SME |
| Issue Size | ₹25.22 Cr |
| Fresh Issue | 2,772,000 shares (aggregating up to ₹25.22 Cr) |
| Offer for Sale | - |
| Retail Portion | 47.45% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 35.68x | 44.13x | 42.27x |
IPO Tentative Timetable
The Kundan Edifice Limited IPO open date is Sep 12, 2023, and the close date is Sep 15, 2023. The issue may list on Sep 26, 2023.
| IPO Open Date | Sep 12, 2023 |
| IPO Close Date | Sep 15, 2023 |
| Basis of Allotment Date | Sep 21, 2023 |
| Initiation of Refunds | Sep 22, 2023 |
| Credit of Shares to Demat Account | Sep 25, 2023 |
| IPO Listing Date | Sep 26, 2023 |
IPO Lot Size
The Kundan Edifice Limited IPO market lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹109200).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹109200 |
| Maximum | 1 | 1200 | ₹109200 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.00% |
| Post Issue Share Holding | 72.28% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-22 | 1928.14 | 3250.60 | 167.82 |
| 31-Mar-23 | 2965.84 | 6046.36 | 513.09 |
Objects of the Issue:
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Meeting incremental working capital requirements; and
- General corporate purposes.
Kundan Edifice Limited IPO Registrar:
Cameo Corporate Services Limited
Kundan Edifice Limited IPO Lead Manager(s):
Fedex Securities Pvt Ltd
Company Contact Information:
Kundan Edifice Limited
Gala A/ B, Ganesh Industrial Estate, behind Burma Shell Petrol Pump, Vasai East
Palghar
Palghar
