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 the Karnika Industries IPO is expected to be finalized on Tuesday, October 10, 2023. Karnika Industries IPO will list on NSE SME with tentative listing date fixed as Friday, October 13, 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.
Karnika Industries IPO Details
| IPO Date | September 29, 2023 to October 5, 2023 |
| Listing Date | [.] |
| 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 Reservation
Karnika Industries IPO a total of 3,299,200 shares are offered. NII: 1,566,400 (47.48%), RII: 1,566,400 (47.48%).
| 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 Timeline (Tentative Schedule)
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 | Friday, October 13, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 5, 2023 |
Karnika Industries IPO Lot Size
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 |
Karnika Industries IPO Promoter Holding
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% |
About Karnika Industries Limited
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.
Company Financials
| 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 |
Amount in ₹ Lakhs
Key Performance Indicator
Karnika Industries IPO Market Cap is Rs 94.24 Cr and P/E (x) is 7.57.
| KPI | Values |
|---|---|
| P/E (x) | 7.57 |
| Post P/E (x) | 11.06 |
| Market Cap (₹ Cr.) | 94.24 |
| Debt/Equity | 2.9 |
| EPS (Rs) | 9.66 |
| RoNW | 45.76% |
Check Karnika Industries IPO Peer Comparison here.
Objects of the Issue (Karnika Industries IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- To Meet Working Capital Requirement.
- General Corporate Purpose.
- To Meet the Issue Expenses.
Karnika Industries IPO Review (May apply)
[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…
Karnika Industries IPO Subscription Status (Bidding Detail)
The Karnika Industries IPO is subscribed 3.07 times on Oct 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)
Karnika Industries IPO Contact Details
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
Karnika Industries IPO Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php