Fixed Price IPO | ₹25 Cr | Listed at NSE SME | Tue, Sep 12, 2023 - Fri, Sep 15, 2023
Kundan Edifice IPO is a fixed price issue of ₹25.23 crores. The issue is entirely a fresh issue of 0.28 crore shares of ₹25.23 crore.
Kundan Edifice IPO bidding started from Sep 12, 2023 and ended on Sep 15, 2023. The allotment for Kundan Edifice IPO was finalized on Sep 21, 2023. The shares got listed on NSE SME on Sep 26, 2023.
Kundan Edifice IPO price is ₹91 per share. The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹1,09,200 (1200 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,400 shares), amounting to ₹2,18,400.
Fedex Securities Pvt.Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The Market Maker of the company is Gretex Share Broking Pvt.Ltd..
Refer to Kundan Edifice IPO RHP for detailed Information.
IPO Open
Tue, Sep 12, 2023
IPO Close
Fri, Sep 15, 2023
Issue Price
₹91 per share
Market Cap (Pre-IPO)
₹93.48 Cr
| IPO Date | 12 to 15 Sep, 2023 |
| Listed on | Tue, Sep 26, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹91 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 27,72,000 shares (agg. up to ₹25 Cr) |
| Reserved for Market Maker | 1,41,600 shares Gretex Share Broking Pvt.Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 26,30,400 shares (agg. up to ₹24 Cr) |
| Net Offered to Public | 26,30,400 shares (agg. up to ₹24 Cr) |
| Share Holding Pre Issue | 75,00,000 shares |
| Share Holding Post Issue | 1,02,72,000 shares |
| NSE Symbol | KEL |
| ISIN | INE0OWX01025 |
Kundan Edifice IPO comprises a total issue size of 27,72,000 shares. The net offer to the public is 26,30,400 shares, after excluding 1,41,600 shares allotted on a firm basis. Of the Net offer 13,15,200 (50.00%) allocated to NII 13,15,200 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 13,15,200 | 50.00% | 47.45% |
| Retail Shares Offered | 13,15,200 | 50.00% | 47.45% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,41,600 | 5.11% | |
| Total Shares Offered | 27,72,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,09,200 |
| Retail (Max) | 1 | 1,200 | ₹1,09,200 |
| HNI (Min) | 2 | 2,400 | ₹2,18,400 |
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.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 29.66 | 19.28 | 11.85 | 8.47 |
| Total Income | 60.46 | 32.51 | 15.22 | 6.50 |
| Profit After Tax | 5.13 | 1.68 | 0.77 | 0.04 |
| NET Worth | 8.11 | 2.98 | 1.30 | 0.28 |
| Reserves and Surplus | 0.61 | -0.02 | -1.70 | -2.47 |
| Total Borrowing | 14.51 | 9.05 | 7.29 | 6.37 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Meeting incremental working capital requirements; and | 15.46 |
| 2 | General corporate purposes | 6.08 |
| KPI | |
|---|---|
| ROE | 63.28% |
| ROCE | 43.69% |
| Debt/Equity | 1.79 |
| RoNW | 63.28% |
| PAT Margin | 8.52% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.84 | |
| P/E (x) | 13.3 | 18.2 |
| Promoter Holding | 99.00% | 72.28% |
| Market Cap | ₹93.48 Cr. |
The Kundan Edifice IPO is subscribed 42.27 times on September 15, 2023 7:29:00 PM (Day 4). The public issue subscribed 44.13 times in the retail category, [.] times in the QIB category, and 35.68 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 35.68 | 13,15,200 | 4,69,20,000 |
| Retail | 44.13 | 13,15,200 | 5,80,44,000 |
| Total | 42.27 | 26,30,400 | 11,11,76,400 |
Total Application : 48,370
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager fees | 0.41 |
| 2 | Fees payable to Advertising and marketing Expenses, Printing and Distribution of issue stationery, Brokerage, Selling, Commission and upload fees | 0.17 |
| 3 | Registrar to the Issue | 0.01 |
| 4 | Legal and Other Advisory Services | 0.02 |
| 5 | Regulators including Stock Exchange | 0.09 |
| 6 | Others, if any (including Underwriting Commission, Market making, depositories, marketing fees etc.) | 2.98 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹91.00 |
| Open | ₹75.00 |
| Low | ₹71.25 |
| High | ₹78.75 |
| Last Trade | ₹78.75 |
Lead Manager Reports
Kundan Edifice IPO is a SME IPO of 27,72,000 equity shares of the face value of ₹10 aggregating up to ₹25 Crores. The issue is priced at ₹91 per share. The minimum order quantity is 1200.
The IPO opens on Tue, Sep 12, 2023, and closes on Fri, Sep 15, 2023.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Kundan Edifice IPO using UPI as a payment gateway. Zerodha customers can apply in Kundan Edifice IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Kundan Edifice IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Kundan Edifice IPO opens on Tue, Sep 12, 2023 and closes on Fri, Sep 15, 2023.
Kundan Edifice IPO lot size is 1200, and the minimum amount required for application is ₹1,09,200.
You can apply in Kundan Edifice 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 Kundan Edifice IPO will be done on Thursday, September 21, 2023, and the allotted shares will be credited to your demat account by Mon, Sep 25, 2023. Check the Kundan Edifice IPO allotment status.
The Kundan Edifice IPO listing date is on Tue, Sep 26, 2023.
