Fixed Price IPO | ₹25 Cr | Listed at NSE SME | Fri, Sep 29, 2023 - Thu, Oct 5, 2023
Karnika Industries IPO is a fixed price issue of ₹25.07 crores. The issue is entirely a fresh issue of 0.33 crore shares of ₹25.07 crore.
Karnika Industries IPO bidding started from Sep 29, 2023 and ended on Oct 5, 2023. The allotment for Karnika Industries IPO was finalized on Oct 10, 2023. The shares got listed on NSE SME on Oct 12, 2023.
Karnika Industries IPO price is ₹76 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹1,21,600 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,43,200.
Beeline Capital Advisors Pvt.Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Spread X Securities Pvt.Ltd..
Refer to Karnika Industries IPO RHP for detailed Information.
IPO Open
Fri, Sep 29, 2023
IPO Close
Thu, Oct 5, 2023
Issue Price
₹76 per share
Market Cap (Pre-IPO)
₹94.24 Cr
| IPO Date | 29 Sep to 5 Oct, 2023 |
| Listed on | Thu, Oct 12, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹76 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 32,99,200 shares (agg. up to ₹25 Cr) |
| Reserved for Market Maker | 1,66,400 shares Spread X Securities Pvt.Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 31,32,800 shares (agg. up to ₹24 Cr) |
| Net Offered to Public | 31,32,800 shares (agg. up to ₹24 Cr) |
| Share Holding Pre Issue | 91,00,300 shares |
| Share Holding Post Issue | 1,23,99,500 shares |
| NSE Symbol | KARNIKA |
| ISIN | INE0MGA01012 |
Karnika Industries IPO comprises a total issue size of 32,99,200 shares. The net offer to the public is 31,32,800 shares, after excluding 1,66,400 shares allotted on a firm basis. Of the Net offer 15,66,400 (50.00%) allocated to NII 15,66,400 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 15,66,400 | 50.00% | 47.48% |
| Retail Shares Offered | 15,66,400 | 50.00% | 47.48% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,66,400 | 5.04% | |
| Total Shares Offered | 32,99,200 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,21,600 |
| Retail (Max) | 1 | 1,600 | ₹1,21,600 |
| HNI (Min) | 2 | 3,200 | ₹2,43,200 |
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 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 100.71 | 59.21 | 30.56 |
| Total Income | 126.06 | 98.93 | 47.79 |
| Profit After Tax | 8.27 | 4.54 | 0.82 |
| NET Worth | 18.07 | 18.61 | 3.78 |
| Reserves and Surplus | 8.97 | ||
| Total Borrowing | 52.46 | 22.24 | 15.71 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To Meet Working Capital Requirement | 20.00 |
| 2 | General Corporate Purpose | 3.37 |
| KPI | |
|---|---|
| Debt/Equity | 2.90 |
| RoNW | 45.76% |
| PAT Margin | 6.64% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 9.66 | |
| P/E (x) | 7.57 | 11.06 |
| Promoter Holding | 100.00% | 73.39% |
| Market Cap | ₹94.24 Cr. |
The Karnika Industries IPO is subscribed 3.07 times on October 5, 2023 7:29:00 PM (Day 4). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 3.22 | 15,66,400 | 50,41,600 |
| Retail | 2.91 | 15,66,400 | 45,64,800 |
| Total | 3.07 | 31,32,800 | 96,19,200 |
Total Application : 2,853
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees including underwriting commission | 0.25 |
| 2 | Brokerage, selling, commission and upload fees | 0.01 |
| 3 | Registrar to the issue | 0.01 |
| 4 | Legal Advisors | 0.03 |
| 5 | Advertising and Marketing expenses | 1.23 |
| 6 | Regulators including stock exchanges | 0.05 |
| 7 | Printing and distribution of issue stationery | 0.02 |
| 8 | Others, if any (market making, depositories, marketing fees, secretarial, peer review auditors, etc.) | 0.11 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹76.00 |
| Open | ₹81.00 |
| Low | ₹81.00 |
| High | ₹85.05 |
| Last Trade | ₹82.60 |
Lead Manager Reports
Karnika Industries IPO is a SME IPO of 32,99,200 equity shares of the face value of ₹10 aggregating up to ₹25 Crores. The issue is priced at ₹76 per share. The minimum order quantity is 1600.
The IPO opens on Fri, Sep 29, 2023, and closes on Thu, Oct 5, 2023.
Skyline Financial Services Pvt.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 Fri, Sep 29, 2023 and closes on Thu, Oct 5, 2023.
Karnika Industries IPO lot size is 1600, and the minimum amount required for application is ₹1,21,600.
You can apply in Karnika Industries IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Thu, Oct 12, 2023. Check the Karnika Industries IPO allotment status.
The Karnika Industries IPO listing date is on Thu, Oct 12, 2023.
