Scarnose International Limited IPO Detail
Incorporated in 2011, Scarnose International Limited manufactures and trades agricultural commodities such as cotton trading, garment manufacturing, yarn trading, and fabric trading. The company has a network of printing, weaving, and stitching units. Scarnose International procures cotton bales from different generous and offers the best quality cotton bales to the principal markets of India. Scarnose International Limited's product portfolio includes raw cotton, cotton bales, yarn and garments for ladies.
The company started manufacturing ladies' dress materials, particularly Kurtis, through an outsourcing model in the financial year 2021 and selling them under their domestic brand "Scarnose".
The company buys raw materials from a variety of suppliers, such as embroidered fabric accessories, fasteners, buttons, labels, laces, and other consumables, and then the manufacturing facility begins cutting, sewing, finishing and ironing them into finished products.
The company buys raw materials from a variety of suppliers, such as embroidered fabric accessories, fasteners, buttons, labels, laces, and other consumables, and then the manufacturing facility begins cutting, sewing, finishing, and ironing them into finished products.
Competitive Strengths:
- Rich management experience and skilled team
- Smooth flow of operations
- Well-defined organizational structure
- Existing Supplier Relationship
- Quality Policy
- Customer Centric Business Model
Company Promoters
Mr. Shah Vimalkumar Mishrilal and Mr. Hitesh LooniaIPO Details
| IPO Opening Date | Jun 14, 2022 |
| IPO Closing Date | Jun 17, 2022 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹55 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | BSE SME |
| Issue Size | ₹6.60 Cr |
| Fresh Issue | ₹6.60 Cr |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 0.44x | 0.58x | 0.51x | |
| Day 2 | - | - | 0.54x | 0.89x | 0.71x | |
| Day 3 | - | - | 1.15x | 1.27x | 1.21x | |
| Day 4 | - | - | 2.09x | 2.34x | 2.22x |
IPO Tentative Timetable
The Scarnose International Limited IPO open date is Jun 14, 2022, and the close date is Jun 17, 2022. The issue may list on Jun 27, 2022.
| IPO Open Date | Jun 14, 2022 |
| IPO Close Date | Jun 17, 2022 |
| Basis of Allotment Date | Jun 22, 2022 |
| Initiation of Refunds | Jun 23, 2022 |
| Credit of Shares to Demat Account | Jun 24, 2022 |
| IPO Listing Date | Jun 27, 2022 |
IPO Lot Size
The Scarnose International Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹110000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹110000 |
| Maximum | 1 | 2000 | ₹110000 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding | 61.90% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-22 | 1242.25 | 9593.02 | 33.42 |
| 31-Mar-21 | 457.8 | 3255.72 | 22.51 |
| 31-Mar-20 | 1204.91 | 1204.56 | 2.81 |
Objects of the Issue:
- To meet the working capital requirements.
- To make the repayment of Unsecured Loan.
- To meet the Issue Expenses.
- General Corporate Purposes.
Scarnose International Limited IPO Registrar:
Cameo Corporate Services Limited
Scarnose International Limited IPO Lead Manager(s):
Finshore Management Services Limited.
Company Contact Information:
Scarnose International Limited
503, Sun Square,
Nr Hotel Nest, Off C. G. Road,
Navrangpura, Ahmedabad - 380006,
