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Scarnose International Limited IPO (Scarnose International IPO) Detail

Jun 14, 2022 - Jun 17, 2022

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 Revenue Profit After Tax
31-Mar-201204.911204.562.81
31-Mar-21457.83255.7222.51
31-Mar-221242.259593.0233.42
Amount in ₹ Lakhs

Objects of the Issue

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 Details

Scarnose International IPO Date Jun 14, 2022 to Jun 17, 2022
Scarnose International IPO Face Value ₹10 per share
Scarnose International IPO Price ₹55 per share
Scarnose International IPO Lot Size 2000 Shares
Issue Size1,200,000 shares of ₹10
(aggregating up to ₹6.60 Cr)
Fresh Issue1,200,000 shares of ₹10
(aggregating up to ₹6.60 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME
Retail Shares Offered50% of the net offer
NII (HNI) Shares Offered50% of the net offer
Company Promoters

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

Scarnose International IPO Timeline (Tentative Timetable)

Scarnose International IPO opens on Jun 14, 2022, and closes on Jun 17, 2022. The Scarnose International IPO bid date is from Jun 14, 2022 10.00 A.M. to Jun 17, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Scarnose International IPO Opening Date Jun 14, 2022
Scarnose International IPO Closing Date Jun 17, 2022
Basis of Allotment Jun 22, 2022
Initiation of Refunds Jun 23, 2022
Credit of Shares to Demat Jun 24, 2022
Scarnose International IPO Listing Date Jun 27, 2022

Scarnose International IPO Lot Size

The Scarnose International IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹110,000).

Application Lots Shares Amount
Minimum 1 2000 ₹110,000
Maximum 1 2000 ₹110,000

Scarnose International IPO Promoter Holding

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

Scarnose International IPO Review

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 Jun 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)
NII2.09
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 Date

Listing Date Monday, June 27, 2022
BSE Script Code 543537
NSE Symbol
Listing In MT Group of Securities
ISIN INE0IXR01019
IPO Price ₹55 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE SME
₹55.00
₹55.50
₹55.50
₹56.65
₹56.05

Company Contact Information

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://online.cameoindia.com/

Scarnose International IPO Review

Scarnose International IPO Recommendation Summary

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Members 0 0 3

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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 Jun 14, 2022, and closes on Jun 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 Jun 14, 2022 and closes on Jun 17, 2022.

Scarnose International IPO lot size is 2000 Shares and the minimum order quantity is .

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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Scarnose International IPO will be done on Jun 22, 2022, and the allotted shares will be credited to your demat account by Jun 24, 2022. Check the Scarnose International IPO allotment status.

The Scarnose International IPO listing date is on Monday, June 27, 2022.
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