Incorporated in 2010, Kundan Edifice Limited is engaged in the business of manufacturing, assembly, and sale of light-emitting diode (“LED”) strip lights.
Kundan Edifice is primarily an original design manufacturer (“ODM”) and design, develop, manufacture, and supply products to customers who then further distribute these products under their own brands. The company also provides custom products. Its product list includes HV Flex- High voltage flex, LV Flex- Low voltage flex, RGB LV Flex (Smart Lights), and Accessories Kit.
The company has two manufacturing and assembly facilities in the state of Maharashtra located in Vasai and Bhiwandi. As of August 31, 2023, Kundan employs over 311 employees in its manufacturing facilities, including contract workers.
Kundan Edifice IPO Details
Kundan Edifice IPO is a Fixed Price Issue. The IPO total issue size is Rs 25.22 Cr. The Kundan Edifice IPO price is ₹91 per share. The IPO will list on NSE SME.
| IPO Date | September 12, 2023 to September 15, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹91 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 2,772,000 shares (aggregating up to ₹25.22 Cr) |
| Fresh Issue | 2,772,000 shares (aggregating up to ₹25.22 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 7,500,000 |
| Share holding post issue | 10,272,000 |
| Market Maker portion | 141,600 shares Gretex Share Broking |
Kundan Edifice IPO Reservation
Kundan Edifice IPO a total of 2,772,000 shares are offered. RII: 1,315,200 (47.45%), NII: 1,315,200 (47.45%).
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 141,600 (5.11%) |
| Other Shares Offered | 1,315,200 (47.45%) |
| Retail Shares Offered | 1,315,200 (47.45%) |
| Total Shares Offered | 2,772,000 (100%) |
Kundan Edifice IPO Timetable (Tentative)
Kundan Edifice IPO opens on September 12, 2023, and closes on September 15, 2023.
| IPO Open Date | Tuesday, September 12, 2023 |
| IPO Close Date | Friday, September 15, 2023 |
| Basis of Allotment | Thursday, September 21, 2023 |
| Initiation of Refunds | Friday, September 22, 2023 |
| Credit of Shares to Demat | Monday, September 25, 2023 |
| Listing Date | Tuesday, September 26, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 15, 2023 |
Kundan Edifice IPO Lot Size
The minimum lot size of this Kundan Edifice IPO is 1200 shares required is ₹109,200.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹109,200 |
| Retail (Max) | 1 | 1200 | ₹109,200 |
| HNI (Min) | 2 | 2,400 | ₹218,400 |
| Lot Size Calculator |
Kundan Edifice IPO Promoter Holding
Mr. Divyansh Mukesh Gupta and Mr. Vijaya Mukesh Gupta are the promoters of the company.
| Pre Issue Share Holding | 99.00% |
| Post Issue Share Holding | 72.28% |
Company Financials
| Period Ended | 31 Mar 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 846.60 | 1,185.44 | 1,928.14 | 2,965.84 |
| Revenue | 649.70 | 1,522.43 | 3,250.60 | 6,046.36 |
| Profit After Tax | 4.05 | 77.22 | 167.82 | 513.09 |
| Net Worth | 27.68 | 129.90 | 297.72 | 810.81 |
| Reserves and Surplus | -247.32 | -170.10 | -2.28 | 60.81 |
| Total Borrowing | 636.89 | 728.65 | 905.03 | 1,450.61 |
Amount in ₹ Lakhs
Key Performance Indicator
Kundan Edifice IPO Market Cap is Rs 93.48 Cr and P/E (x) is 13.3.
| KPI | Values |
|---|---|
| P/E (x) | 13.3 |
| Market Cap (₹ Cr.) | 93.48 |
| ROE | 63.28% |
| ROCE | 43.69% |
| Debt/Equity | 1.79 |
| EPS (Rs) | 6.84 |
| RoNW | 63.28% |
Check Kundan Edifice IPO Peer Comparison here.
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Meeting incremental working capital requirements; and
- General corporate purposes.
Kundan Edifice IPO Review (May apply)
[Dilip Davda] The company is engaged in LED and EMS segments. It marked growth in its top and bottom lines for the reported periods, but the sudden boost in FY23 performance raises eyebrows and concerns over sustainability. The issue appears fully priced based on its concluded fiscal performance. Well-informed investors may park funds for the medium to long-term rewards. Read detail review…
Kundan Edifice IPO Subscription Status (Bidding Detail)
The Kundan Edifice IPO is subscribed 0.97 times on Sep 12, 2023 4:34:00 PM. The public issue subscribed 1.75 times in the retail category, [.] times in the QIB category, and 0.20 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 0.20 | 13,15,200 | 2,65,200 |
| Retail | 1.75 | 13,15,200 | 22,96,800 |
| Total | 0.97 | 26,30,400 | 25,62,000 |
Total Application : 1,914 (1.75 times)
*Market Maker portion is not included to NII/HNI.
Kundan Edifice IPO Prospectus
Company Contact Information
Kundan Edifice Limited
Gala A/ B, Ganesh Industrial Estate,
behind Burma Shell Petrol Pump,
Vasai East, Palghar – 401208
Phone: +91 7030919707
Email: cs@kundanedifice.com
Website: http://www.kundanedifice.com/index.php
Kundan Edifice IPO Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: priya@cameoindia.com
Website: https://ipo.cameoindia.com/