FREE Account Opening + No Clearing Fees
Loading...

Scarnose International Limited IPO (Scarnose International IPO) Detail

June 14, 2022 - June 17, 2022

Scarnose International IPO is a fixed price issue of Rs 6.60 crores. The issue is entirely a fresh issue of 12 lakh shares.

Scarnose International IPO bidding started from June 14, 2022 and ended on June 17, 2022. The allotment for Scarnose International IPO was finalized on Wednesday, June 22, 2022. The shares got listed on BSE SME on June 27, 2022.

Scarnose International IPO price is ₹55 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹110,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹220,000.

Finshore Management Services Limited is the book running lead manager of the Scarnose International IPO, while Cameo Corporate Services Limited is the registrar for the issue.

Refer to Scarnose International IPO RHP for detailed information.

Scarnose International IPO Details

IPO Date June 14, 2022 to June 17, 2022
Listing Date June 27, 2022
Face Value ₹10 per share
Price ₹55 per share
Lot Size 2000 Shares
Total Issue Size1,200,000 shares
(aggregating up to ₹6.60 Cr)
Fresh Issue1,200,000 shares
(aggregating up to ₹6.60 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME
Market Maker portion60,000 shares

Scarnose International IPO Reservation

Scarnose International IPO offers 1,200,000 shares. 570,000 (47.50%) to NII, 570,000 (47.50%) to RII.

Investor Category Shares Offered
Anchor Investor Shares Offered-
Market Maker Shares Offered60,000 (5.00%)
Other Shares Offered570,000 (47.50%)
Retail Shares Offered570,000 (47.50%)
Total Shares Offered1,200,000 (100%)

Scarnose International IPO Timeline (Tentative Schedule)

Scarnose International IPO opens on June 14, 2022, and closes on June 17, 2022.

IPO Open Date Tuesday, June 14, 2022
IPO Close Date Friday, June 17, 2022
Basis of Allotment Wednesday, June 22, 2022
Initiation of Refunds Thursday, June 23, 2022
Credit of Shares to Demat Friday, June 24, 2022
Listing Date Monday, June 27, 2022
Cut-off time for UPI mandate confirmation 5 PM on June 17, 2022

Scarnose International IPO Lot Size

Investors can bid for a minimum of 2000 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 2000 ₹110,000
Retail (Max) 1 2000 ₹110,000
HNI (Min) 2 4,000 ₹220,000
Lot Size Calculator

Scarnose International IPO Promoter Holding

Mr. Shah Vimalkumar Mishrilal and Mr. Hitesh Loonia are the company promoters.

Share Holding Pre Issue 99.99%
Share Holding Post Issue 61.90%

About Scarnose International Limited

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.

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 Financials

Scarnose International Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and Surplus
31-Mar-201204.911204.562.814.053.04
31-Mar-21457.83255.7222.51190.55148.55
31-Mar-221242.259593.0233.42339143.98
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Scarnose International IPO is Rs 17.33 Cr.

Pre IPO Post IPO
P/E (x) 51.89

Objects of the Issue (Scarnose International IPO Objectives)

The Objects of the Issue are:

  1. To meet the working capital requirements.
  2. To make the repayment of Unsecured Loan.
  3. To meet the Issue Expenses.
  4. General Corporate Purposes.

Scarnose International IPO Review (Avoid)

[Dilip Davda]  Though the company has reported a growing pattern for its top and bottom lines, its low margin raises concerns. Based on petty earnings, its IPO is priced greedily. A low post-IPO equity capital base indicates longer gestation for migration to the main board. There is no harm in ignoring this pricy issue. Read detail review...


Scarnose International IPO Subscription Status (Bidding Detail)

The Scarnose International IPO is subscribed 2.22 times on June 17, 2022 7:53:00 PM. The public issue subscribed 2.34 times in the retail category, times in the QIB category, and 2.09 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
Other2.09
Retail2.34
Total2.22

Scarnose International IPO Prospectus

Scarnose International IPO Rating

73
3.0
Rating:Rated 3.0 stars
Vote Here ...

Scarnose International IPO Listing Details

Listing Date June 27, 2022
BSE Script Code 543537
NSE Symbol
ISIN INE0IXR01019
Final Issue Price ₹55 per share

Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE SME
₹55.00
₹55.50
₹55.50
₹56.65
₹56.05

Check IPO Performance…

Scarnose International Limited Contact Details

Scarnose International Limited
503, Sun Square,
Nr Hotel Nest, Off C. G. Road,
Navrangpura, Ahmedabad - 380006,
Phone: 079 – 4897 5503
Email: compliance@scarnose.com
Website: https://scarnose.com/

Scarnose International IPO Registrar

Cameo Corporate Services Limited

Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/

Scarnose International IPO - Buy or Not

Scarnose International IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 0 0 1
Members 0 0 3

Read All Reviews Post Your Review Manage Reviews

SME IPO Enquiry

SME Company Owners
We could help you get listed on the stock market.

Contact us Today

Check our SME IPO Guide New

Scarnose International IPO FAQs

Scarnose International IPO is a SME IPO of 1,200,000 equity shares of the face value of ₹10 aggregating up to ₹6.60 Crores. The issue is priced at ₹55 per share. The minimum order quantity is 2000 Shares.

The IPO opens on June 14, 2022, and closes on June 17, 2022.

Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

Zerodha customers can apply online in Scarnose International IPO using UPI as a payment gateway. Zerodha customers can apply in Scarnose International IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Scarnose International IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Scarnose International IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Scarnose International IPO opens on June 14, 2022 and closes on June 17, 2022.

Scarnose International IPO lot size is 2000 Shares, and the minimum amount required is ₹110,000.

You can apply in Scarnose International 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 Scarnose International IPO will be done on Wednesday, June 22, 2022, and the allotted shares will be credited to your demat account by Friday, June 24, 2022. Check the Scarnose International IPO allotment status.

The Scarnose International IPO listing date is on June 27, 2022.
Open an Instant Account with Zerodha

Scarnose International IPO Message Board

Ranked Members of Chittorgarh.com Forum  Ranked Members | Members with Most Likes

Loading...

41 Comments

22. Vinshah |   Link |  Bookmark |June 28, 2022 4:20:13 PM
Good listing yesterday☺️
21. VKanna |   Link |  Bookmark |June 18, 2022 2:06:18 PM
Experts please share your views on Le Merite exports, bought 18 lots at 82 Rs now in huge loss, now this trades around 57. Will this stock has chances to move up in near term, day by day, the stock value keep reducing. Expecting the experts to share your views on this @Lokesh, @Noorul, @Avenue, @mRavi, @ipoanalysis, @eva,
21.4. lokes |   Link |  Bookmark |June 24, 2022 1:12:57 PM
IPO Guru IPO Guru (4400+ Posts, 5100+ Likes)
i have sold it at 78 after it started coming down from 86 levels....i want to protect my capital instead of greed.....if something is not performing as expected , better to sell and save capital instead of holding against the trend. Already i made loss in precision metalicks by holding for longer against its performance, so i don't take any risk now....less profit or no profit is better than loss.....

if you are buying so many lots means you are big investor so always have some stoploss also for your big investments.....and some good research is needed to put such money in any company...
21.5. Abhii VPG |   Link |  Bookmark |June 29, 2022 4:30:32 PM
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
Book partial loss & keep holding some lots for longer term, it will help you to atleast recover your losses as the company’s fundamentals seems strong.
20. Bhav |   Link |  Bookmark |June 17, 2022 11:57:59 AM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
Brothers,

Anyone applying here after seeing numbers at 2:50.

Till now looks ok subscription.
20.4. Avenue |   Link |  Bookmark |June 17, 2022 2:42:32 PM
I am not applying.
I will not buy this even at/post listing with 20% discount....

I agree with Dilip Ji "There is no harm in ignoring this pricy issue"

20.5. Bhav |   Link |  Bookmark |June 17, 2022 6:23:21 PM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
Followed all brothers advice and did not apply
19. abc xyz |   Link |  Bookmark |June 15, 2022 7:23:03 PM
IPO Guru IPO Guru (1100+ Posts, 1100+ Likes)
The retailers who have applied in this issue are very intelligent ones and having great farsight.
19.1. svh |   Link |  Bookmark |June 16, 2022 6:50:53 PM
IPO Guru IPO Guru (2400+ Posts, 3600+ Likes)
All those are unemployed searching employment in investing in such sme IPOs. Half of them are just applying fake applications just for fun thankful to UPI.
🙏👍
18. Ajit kumar jain |   Link |  Bookmark |June 14, 2022 11:36:48 AM
New Definition of *NIFTY *

*No Income For This Year*
18.1. svh |   Link |  Bookmark |June 16, 2022 5:27:08 PM
IPO Guru IPO Guru (2400+ Posts, 3600+ Likes)
*Negative Income For This Year*
🙏👍
17. lokes |   Link |  Bookmark |June 15, 2022 12:57:45 AM
IPO Guru IPO Guru (4400+ Posts, 5100+ Likes)
Very less profit margin and very less profits and expensive issue as per pricing, not an interesting sector.....i will not be applying here regardless of any no. of subscriptions...
17.1. NaveenM |   Link |  Bookmark |June 15, 2022 11:52:45 AM (200+ Posts)
@Lokes, agree with your views. When the IPO is not attractive, going by the subscription number is not right. Subscription number do not give the clear picture as operators will play in small IPOs. I will not invest in this IPO.
16. chetan ipo |   Link |  Bookmark |June 14, 2022 10:59:29 PM
Seems it will sail through easily
15. Maria |   Link |  Bookmark |June 13, 2022 2:31:10 PM
If anyone remembers that I have written many times in this platform that the Management/ govt had issued the LIC at much more higher value ( P. E. ratio) . The P. E. ratio of HDFC & ICICI Prudential was much lower than LIC. All the experts of this platform have taged my message and those who have invested their hard earned money in this stock are now bleeding, Today one may see the price of New India Assurance, GIC & other psu stocks. Again & again Govt will offload their various shares through ofs and ipos and the innocent retailers will loose their hard earned money. So be alert and take wise decision as it's your money.
14. i For IPO ☑️ |   Link |  Bookmark |June 11, 2022 6:45:23 PM
IPO Mentor IPO Mentor (600+ Posts, 800+ Likes)
Retail - IPO IPO IPO I AVOID ALL SME-IPO LIKE ME I CANT AVOID
13. Nilaykumar |   Link |  Bookmark |June 10, 2022 11:16:19 AM
IPO Guru IPO Guru (1100+ Posts, 500+ Likes)
"Greedily prcied offer"😂
Dilip dawda ne to bus pel hi diya apnde shbado se promoter ko.
Itna aggressive oppose to shyad hi koi ipo ke liye kiya hoga usne.
13.2. Nilaykumar |   Link |  Bookmark |June 10, 2022 7:19:21 PM
IPO Guru IPO Guru (1100+ Posts, 500+ Likes)
Right
13.3. Hamsa |   Link |  Bookmark |June 14, 2022 2:38:58 AM
SEBI ko dismiss kar dena chahiye. Kese kese ULLU ke PATTE is tarah ke issue ko premium pe lane ki permission de dete hai.
12. NaveenM |   Link |  Bookmark |June 10, 2022 11:49:26 AM (200+ Posts)
Though the company was established in the year 2011 as a Private Limited Company, there wasn't any manor business activity till March 2019. Since three years they started trading of Raw Cotton, Cotton Bales, Yarn and manufacturing of Ladies Kurtis and Dress Materials through outsourcing model. Hence, you can say that the company is three years old.

For a three year old trading company with 33 lakhs profit, the offer price looks pricey bet.
11. chetan ipo |   Link |  Bookmark |June 9, 2022 8:00:55 PM
Asking price too high, but revenue steadily increasing
11.1. Trueinfo |   Link |  Bookmark |June 10, 2022 11:34:22 AM
IPO Guru IPO Guru (1800+ Posts, 1700+ Likes)
Revenue increase is almost 3× YOY.
10. Ravu |   Link |  Bookmark |June 10, 2022 10:48:20 AM
IPO Mentor IPO Mentor (700+ Posts, 400+ Likes)
Pricy bet
PAT is not even half percentage of revenue

9. Divya. |   Link |  Bookmark |June 10, 2022 10:42:43 AM
@ipobull @Jethalal @hostpacker @Dinesh Singh

Scarnose ipo Apply or Avoid?

Thanks
8. Trueinfo |   Link |  Bookmark |June 10, 2022 10:26:54 AM
IPO Guru IPO Guru (1800+ Posts, 1700+ Likes)
Though priced higher, but seeing the growth rates of top and bottom lines, should do well.
7. KING VINOD |   Link |  Bookmark |June 10, 2022 7:11:59 AM
IPO Guru IPO Guru (2400+ Posts, 5300+ Likes)
Goel Food Products Limited - BSE SME IPO
Issue Date: 15 June to 20 June 2022
Price: Rs 72
Lot Size: 1600 Shares
Issue: 10,01,600 Shares
Issue size: Rs 7.21 Cr
Face Value: Rs 10
Retail: 4,75,200 Shares
Retail available Forms: 297
Lead Manager: Gretex
6. Anuragsinghal |   Link |  Bookmark |June 10, 2022 12:58:48 AM
One more

*Goel Food Products Limited-BSE SME*

Issue Date : *15-Jun to 20-Jun, 2022*
Price : *Rs 72*
Lot Size : *1600 Shares*

Issue : *10,01,600 Shares*
Issue size : *Rs 7.21 Cr*
FV : *Rs 10*

Retail : *4,75,200 Shares*
Retail Forms : *297*

Lm : *Gretex*
5. Abhii VPG |   Link |  Bookmark |June 9, 2022 11:51:27 PM
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
Top line growth is good but the point of caution is Net Profit Margin. Its less than even 1% of the revenue, very poor.
And as per that, asking price is too high!
4. Dinesh Singh |   Link |  Bookmark |June 9, 2022 11:34:46 PM
IPO Guru IPO Guru (1300+ Posts, 500+ Likes)
looking good.
3. IPO Electrifying |   Link |  Bookmark |June 9, 2022 9:14:25 PM
IPO Mentor IPO Mentor (600+ Posts, 400+ Likes)
Clear avoid.