Shree Karni Fabcom Limited IPO Detail
Incorporated in March 2018, Shree Karni Fancom Limited produces customized knitted and woven fabrics for industries such as luggage, medical arch support, chairs, shoes, and apparel. They specialize in Woven Fabrics, Knitted Fabrics, Coated Fabrics, and 100% polyester, and source yarn, resin, acrylic, and coating chemicals to produce specialized technical textiles.
The manufacturing unit has modern, highly automated machines that produce specialized technical textiles with installed capacities of 70k meters/day for weaving, 90k kilos/month for knitting, 50k meters/day for coatings, 15k meters/day for PVC, 8k meters/day for EVA lamination, and 40k meters/day for heat embossing.
Revenue from operations for 8 months ended Nov 30, 2023 was ₹7572.22 lakhs. Fiscals 2021, 2022, 2023 revenue was ₹3287.42 lakhs, ₹8357.36 lakhs, and ₹12694.65 lakhs respectively. Revenue grew at a CAGR of 56.89% during this period.
The company has been awarded a certificate for their management system, ISO 9001:2015 by INTERTEK.
The company sells its products to various contract manufacturers of branded luggage and shoe manufacturers, traders, and others located in 13 states.
As on November 30, 2023, the company has 39 employees in various departments.
Company Promoters
Manoj Kumar Karnani, Radhe Shyam Daga, Rajiv Lakhotia and Raj Kumar AgarwalIPO Details
| IPO Opening Date | Mar 06, 2024 |
| IPO Closing Date | Mar 11, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹220 - 227 per equity share |
| Market Lot | 600 Shares |
| Min Order Quantity | 600 Shares |
| Listing At | NSE SME |
| Issue Size | ₹42.49 Cr |
| Fresh Issue | ₹42.49 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.04x | 0.00x | 0.00x | 11.26x | 29.88x | 17.37x |
| Day 2 | 0.71x | 0.00x | 0.00x | 37.93x | 86.24x | 51.45x |
| Day 3 | 112.94x | 0.00x | 0.00x | 461.58x | 330.45x | 296.43x |
IPO Tentative Timetable
The Shree Karni Fabcom Limited IPO open date is Mar 06, 2024, and the close date is Mar 11, 2024. The issue may list on Mar 14, 2024.
| IPO Open Date | Mar 06, 2024 |
| IPO Close Date | Mar 11, 2024 |
| Basis of Allotment Date | Mar 12, 2024 |
| Initiation of Refunds | Mar 13, 2024 |
| Credit of Shares to Demat Account | Mar 13, 2024 |
| IPO Listing Date | Mar 14, 2024 |
IPO Lot Size
The Shree Karni Fabcom Limited IPO market lot size is 600 shares. A retail-individual investor can apply for up to 1 lots (600 shares or ₹136200).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 600 | ₹136200 |
| Maximum | 1 | 600 | ₹136200 |
IPO Promoter Holding
| Pre Issue Share Holding | 96.16% |
| Post Issue Share Holding | 70.07% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 2743.05 | 3289.86 | 153.48 |
| 31-Mar-22 | 5911.11 | 8365.18 | 514.84 |
| 31-Mar-23 | 9864.25 | 12704.05 | 555.25 |
| 30-Nov-23 | 14124.38 | 7599.48 | 813.44 |
Objects of the Issue:
The Company proposes to utilize the Net Proceeds from the Issue towards the following objects:
1. Funding the capital expenditure setting up a dyeing unit in Navsari District, Surat, Gujarat;
2. Funding the purchase of new machinery proposed to be installed at the new unit proposed to be set up for manufacturing bags in Palsana, Surat, Gujarat, with an intent to expand the product portfolio;
3. Funding working capital requirements of the company; and
4. General Corporate Purposes.
Shree Karni Fabcom Limited IPO Registrar:
MAS Services Limited
Shree Karni Fabcom Limited IPO Lead Manager(s):
Horizon Management Private Limited
Company Contact Information:
Shree Karni Fabcom Limited
Plot 188,189,190, Block No. 314,
Rajhans Texpa Village Baleshvar
Taluka Palsana, Surat - 394 317
