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Scarnose International IPO is a fixed price issue of ₹6.60 crores. The issue is entirely a fresh issue of 0.12 crore shares of ₹6.60 crore.
Scarnose International IPO bidding started from Jun 14, 2022 and ended on Jun 17, 2022. The allotment for Scarnose International IPO was finalized on Jun 22, 2022. The shares got listed on BSE SME on Jun 27, 2022.
Scarnose International IPO price is ₹55.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,10,000 (2000 shares). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,20,000.
Finshore Management Services 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 Econo Broking Pvt.Ltd..
Refer to Scarnose International IPO RHP for detailed Information.
| IPO Date | June 14, 2022 to June 17, 2022 |
| Listing Date | June 27, 2022 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹55 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 12,00,000 shares (aggregating up to ₹6.60 Cr) |
| Reserved for Market Maker | 60,000 shares Econo Broking Pvt.Ltd. (aggregating up to ₹0.3300 Cr) |
| Net Offered to Public | 11,40,000 shares (aggregating up to ₹6.27 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 19,50,150 shares |
| Share Holding Post Issue | 31,50,150 shares |
Scarnose International IPO offers total 12,00,000 shares. Out of which 5,70,000 (47.50%) allocated to NII, 5,70,000 (47.50%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 60,000 (5.00%) |
| NII (HNI) Shares Offered | 5,70,000 (47.50%) |
| Retail Shares Offered | 5,70,000 (47.50%) |
| Total Shares Offered | 12,00,000 (100.00%) |
Scarnose International IPO opens on June 14, 2022, and closes on June 17, 2022.
| IPO Open Date | Tue, Jun 14, 2022 |
| IPO Close Date | Fri, Jun 17, 2022 |
| Tentative Allotment | Wed, Jun 22, 2022 |
| Initiation of Refunds | Thu, Jun 23, 2022 |
| Credit of Shares to Demat | Fri, Jun 24, 2022 |
| Tentative Listing Date | Mon, Jun 27, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Jun 17, 2022 |
Investors can bid for a minimum of 2,000 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 | 2,000 | ₹1,10,000 |
| Retail (Max) | 1 | 2,000 | ₹1,10,000 |
| HNI (Min) | 2 | 4,000 | ₹2,20,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2011, Scarnose International Limited manufactures and trades agricultural commodities such as cotton trading, garment manufacturing, yarn trading, and fabric trading. The company has a network of printing, weaving, and stitching units. Scarnose International procures cotton bales from different generous and offers the best quality cotton bales to the principal markets of India. Scarnose International Limited's product portfolio includes raw cotton, cotton bales, yarn and garments for ladies.
The company started manufacturing ladies' dress materials, particularly Kurtis, through an outsourcing model in the financial year 2021 and selling them under their domestic brand "Scarnose".
The company buys raw materials from a variety of suppliers, such as embroidered fabric accessories, fasteners, buttons, labels, laces, and other consumables, and then the manufacturing facility begins cutting, sewing, finishing and ironing them into finished products.
Competitive Strengths:
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-20 | 1204.91 | 1204.56 | 2.81 | 4.05 | 3.04 |
| 31-Mar-21 | 457.8 | 3255.72 | 22.51 | 190.55 | 148.55 |
| 31-Mar-22 | 1242.25 | 9593.02 | 33.42 | 339 | 143.98 |
| Amount in ₹ Lakhs | |||||
The market capitalization of Scarnose International IPO is ₹17.33 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 51.89 |
The Objects of the Issue are:
[Dilip Davda] Though the company has reported a growing pattern for its top and bottom lines, its low margin raises concerns. Based on petty earnings, its IPO is priced greedily. A low post-IPO equity capital base indicates longer gestation for migration to the main board. There is no harm in ignoring this pricy issue. Read detail review...
| Listing Date | June 27, 2022 |
| BSE Script Code | 543537 |
| NSE Symbol | |
| ISIN | INE0IXR01019 |
| Final Issue Price | ₹55 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹55.00 |
| Open | ₹55.50 |
| Low | ₹55.50 |
| High | ₹56.65 |
| Last Trade | ₹56.05 |
Scarnose International Ltd.
503, Sun Square,
Nr Hotel Nest, Off C. G. Road,
Navrangpura, Ahmedabad,
Ahmedabad, Gujarat, 380006
Phone: 079 – 4897 5503
Email: compliance@scarnose.com
Website: https://scarnose.com/
Cameo Corporate Services Ltd.
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/
Scarnose International IPO is a SME IPO of 12,00,000 equity shares of the face value of ₹10 aggregating up to ₹6.60 Crores. The issue is priced at ₹55 per share. The minimum order quantity is 2000.
The IPO opens on June 14, 2022, and closes on June 17, 2022.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Scarnose International IPO using UPI as a payment gateway. Zerodha customers can apply in Scarnose International IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Scarnose International IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Scarnose International IPO opens on June 14, 2022 and closes on June 17, 2022.
Scarnose International IPO lot size is 2000, and the minimum amount required for application is ₹1,10,000.
You can apply in Scarnose International 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 Scarnose International IPO will be done on Wednesday, June 22, 2022, and the allotted shares will be credited to your demat account by Friday, June 24, 2022. Check the Scarnose International IPO allotment status.
The Scarnose International IPO listing date is on Monday, June 27, 2022.
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