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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 ₹91.00 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). The minimum lot size investment for 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 Date | September 12, 2023 to September 15, 2023 |
| Listing Date | September 26, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹91 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 27,72,000 shares (aggregating up to ₹25.23 Cr) |
| Reserved for Market Maker | 1,41,600 shares Gretex Share Broking Pvt.Ltd. (aggregating up to ₹1.29 Cr) |
| Net Offered to Public | 26,30,400 shares (aggregating up to ₹23.94 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 75,00,000 shares |
| Share Holding Post Issue | 1,02,72,000 shares |
Kundan Edifice IPO offers total 27,72,000 shares. Out of which 13,15,200 (47.45%) allocated to NII, 13,15,200 (47.45%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,41,600 (5.11%) |
| NII (HNI) Shares Offered | 13,15,200 (47.45%) |
| Retail Shares Offered | 13,15,200 (47.45%) |
| Total Shares Offered | 27,72,000 (100.00%) |
Kundan Edifice IPO opens on September 12, 2023, and closes on September 15, 2023.
| IPO Open Date | Tue, Sep 12, 2023 |
| IPO Close Date | Fri, Sep 15, 2023 |
| Tentative Allotment | Thu, Sep 21, 2023 |
| Initiation of Refunds | Fri, Sep 22, 2023 |
| Credit of Shares to Demat | Mon, Sep 25, 2023 |
| Tentative Listing Date | Tue, Sep 26, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Sep 15, 2023 |
Investors can bid for a minimum of 1,200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 846.60 | 1,185.44 | 1,928.14 | 2,965.84 |
| Total Income | 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 |
The market capitalization of Kundan Edifice IPO is ₹93.48 Cr.
| KPI | Values |
|---|---|
| ROE | 63.28% |
| ROCE | 43.69% |
| Debt/Equity | 1.79 |
| RoNW | 63.28% |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[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...
| Listing Date | September 26, 2023 |
| BSE Script Code | |
| NSE Symbol | KEL |
| ISIN | INE0OWX01025 |
| Final Issue Price | ₹91 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹91.00 |
| Open | ₹75.00 |
| Low | ₹71.25 |
| High | ₹78.75 |
| Last Trade | ₹78.75 |
Kundan Edifice Ltd.
Gala A/ B, Ganesh Industrial Estate,
behind Burma Shell Petrol Pump,
Vasai East, Palghar,
Palghar, Maharashtra, 401208
Phone: +91 7030919707
Email: cs@kundanedifice.com
Website: http://www.kundanedifice.com/index.php
Cameo Corporate Services Ltd.
Phone: +91-44-28460390
Email: priya@cameoindia.com
Website: https://ipo.cameoindia.com/
Kundan Edifice IPO is a SME IPO of 27,72,000 equity shares of the face value of ₹10 aggregating up to ₹25.23 Crores. The issue is priced at ₹91 per share. The minimum order quantity is 1200.
The IPO opens on September 12, 2023, and closes on September 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 September 12, 2023 and closes on September 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 Monday, September 25, 2023. Check the Kundan Edifice IPO allotment status.
The Kundan Edifice IPO listing date is on Tuesday, September 26, 2023.
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