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Karnika Industries IPO is a fixed price issue of Rs 25.07 crores. The issue is entirely a fresh issue of 32.99 lakh shares.
Karnika Industries IPO bidding started from September 29, 2023 and ended on October 5, 2023. The allotment for Karnika Industries IPO was finalized on Tuesday, October 10, 2023. The shares got listed on NSE SME on October 12, 2023.
Karnika Industries IPO price is ₹76 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹121,600. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹243,200.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Karnika Industries IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Karnika Industries IPO is Spread X Securities.
Refer to Karnika Industries IPO RHP for detailed information.
| IPO Date | September 29, 2023 to October 5, 2023 |
| Listing Date | October 12, 2023 |
| Face Value | ₹10 per share |
| Price | ₹76 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,299,200 shares (aggregating up to ₹25.07 Cr) |
| Fresh Issue | 3,299,200 shares (aggregating up to ₹25.07 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 9,100,300 |
| Share holding post issue | 12,399,500 |
| Market Maker portion | 166,400 shares Spread X Securities |
Karnika Industries IPO offers 3,299,200 shares. 1,566,400 (47.48%) to NII, 1,566,400 (47.48%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 166,400 (5.04%) |
| Other Shares Offered | 1,566,400 (47.48%) |
| Retail Shares Offered | 1,566,400 (47.48%) |
| Total Shares Offered | 3,299,200 (100%) |
Karnika Industries IPO opens on September 29, 2023, and closes on October 5, 2023.
| IPO Open Date | Friday, September 29, 2023 |
| IPO Close Date | Thursday, October 5, 2023 |
| Basis of Allotment | Tuesday, October 10, 2023 |
| Initiation of Refunds | Wednesday, October 11, 2023 |
| Credit of Shares to Demat | Thursday, October 12, 2023 |
| Listing Date | Thursday, October 12, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 5, 2023 |
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹121,600 |
| Retail (Max) | 1 | 1600 | ₹121,600 |
| HNI (Min) | 2 | 3,200 | ₹243,200 |
| Lot Size Calculator | |||
Mr. Niranjan Mundhra, Mr. Shiv Shankar Mundhra, and Mr. Mahesh Kumar Mundhr are the company's promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73.39% |
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.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 3,055.87 | 5,921.42 | 10,071.04 |
| Revenue | 4,779.31 | 9,892.52 | 12,605.62 |
| Profit After Tax | 81.61 | 454.01 | 826.74 |
| Net Worth | 378.14 | 1,860.88 | 1,806.83 |
| Reserves and Surplus | 896.80 | ||
| Total Borrowing | 1,570.94 | 2,224.13 | 5,245.53 |
The market capitalization of Karnika Industries IPO is Rs 94.24 Cr.
| KPI | Values |
|---|---|
| Debt/Equity | 2.9 |
| RoNW | 45.76% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 9.66 | |
| P/E (x) | 7.57 | 11.06 |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] The company is engaged in the trading and marketing of kids' wear that is procured on a job-work basis from a third party. It marked growth in its top lines, but the bottom got boosted for FY22 and FY23, which raised eyebrows. Based on FY23 earnings, the issue appears fully priced. Well-informed investors may park funds for long-term rewards. Read detail review...
The Karnika Industries IPO is subscribed 3.07 times on October 5, 2023 7:29:00 PM. The public issue subscribed 2.91 times in the retail category, times in the QIB category, and 3.22 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 3.22 |
| Retail | 2.91 |
| Total | 3.07 |
Total Application : 2,853 (2.91 times)
| Listing Date | October 12, 2023 |
| BSE Script Code | |
| NSE Symbol | KARNIKA |
| ISIN | INE0MGA01012 |
| Final Issue Price | ₹76 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹76.00 |
| ₹81.00 |
| ₹81.00 |
| ₹85.05 |
| ₹82.60 |
Karnika Industries Limited
6&6/1,
Gurgola Ghat Road P.O. Salkia
Howrah - 711106
Phone: 033-26558101
Email: info@karnikaindustries.com
Website: http://www.karnikaindustries.com/Default/Index
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
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Karnika Industries IPO is a SME IPO of 3,299,200 equity shares of the face value of ₹10 aggregating up to ₹25.07 Crores. The issue is priced at ₹76 per share. The minimum order quantity is 1600 Shares.
The IPO opens on September 29, 2023, and closes on October 5, 2023.
Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Karnika Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Karnika Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Karnika Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Karnika Industries IPO opens on September 29, 2023 and closes on October 5, 2023.
Karnika Industries IPO lot size is 1600 Shares, and the minimum amount required is ₹121,600.
You can apply in Karnika Industries IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Karnika Industries IPO will be done on Tuesday, October 10, 2023, and the allotted shares will be credited to your demat account by Thursday, October 12, 2023. Check the Karnika Industries IPO allotment status.
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