Fixed Price IPO | ₹7 Cr | Listed at BSE SME | Tue, Jun 14, 2022 - Fri, Jun 17, 2022
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Tue, Jun 14, 2022
IPO Close
Fri, Jun 17, 2022
Issue Price
₹55 per share
Market Cap (Pre-IPO)
₹17.33 Cr
| IPO Date | 14 to 17 Jun, 2022 |
| Listed on | Mon, Jun 27, 2022 |
| Face Value | ₹10 per share |
| Issue Price | ₹55 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 12,00,000 shares (agg. up to ₹7 Cr) |
| Reserved for Market Maker | 60,000 shares Econo Broking Pvt.Ltd. (agg. up to ₹0.3300 Cr) |
| Fresh Issue (Ex Market Maker) | 11,40,000 shares (agg. up to ₹6 Cr) |
| Net Offered to Public | 11,40,000 shares (agg. up to ₹6 Cr) |
| Share Holding Pre Issue | 19,50,150 shares |
| Share Holding Post Issue | 31,50,150 shares |
| BSE Script Code | 543537 |
| ISIN | INE0IXR01019 |
Scarnose International IPO comprises a total issue size of 12,00,000 shares. The net offer to the public is 11,40,000 shares, after excluding 60,000 shares allotted on a firm basis. Of the Net offer 5,70,000 (50.00%) allocated to NII 5,70,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 5,70,000 | 50.00% | 47.50% |
| Retail Shares Offered | 5,70,000 | 50.00% | 47.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 60,000 | 5.00% | |
| Total Shares Offered | 12,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| 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 |
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 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|
| Assets | 12.42 | 4.58 | 12.05 |
| Total Income | 95.93 | 32.56 | 12.05 |
| Profit After Tax | 0.33 | 0.23 | 0.03 |
| NET Worth | 3.39 | 1.91 | 0.04 |
| Reserves and Surplus | 1.44 | 1.49 | 0.03 |
| 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 the working capital requirements | 2.51 |
| 2 | To make the repayment of Unsecured Loan | 2.89 |
| 3 | General corporate purposes | 0.65 |
| 4 | Issue related expenses | 0.55 |
| KPI | |
|---|---|
| Debt/Equity | 0.85 |
| RoNW | 9.86 |
| PAT Margin | 0.35% |
| EBITDA Margin | 0.59% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 1.76 | |
| P/E (x) | 51.89 | |
| Promoter Holding | 99.99% | 61.90% |
| Market Cap | ₹17.33 Cr. |
The Scarnose International IPO is subscribed 2.22 times on June 17, 2022 7:53:00 PM (Day 4). The public issue subscribed 2.34 times in the retail category, [.] times in the QIB category, and 2.09 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.09 | 5,70,000 | 11,92,000 |
| Retail | 2.34 | 5,70,000 | 13,36,000 |
| Total | 2.22 | 11,40,000 | 25,28,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees including other intermediaries Fees | 0.39 |
| 2 | Regulators Including Stock Exchanges | 0.10 |
| 3 | Advertising and Marketing Expenses | 0.03 |
| 4 | Printing and distribution of Issue Stationary | 0.03 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹55.00 |
| Open | ₹55.50 |
| Low | ₹55.50 |
| High | ₹56.65 |
| Last Trade | ₹56.05 |
Lead Manager Reports
Scarnose International IPO is a SME IPO of 12,00,000 equity shares of the face value of ₹10 aggregating up to ₹7 Crores. The issue is priced at ₹55 per share. The minimum order quantity is 2000.
The IPO opens on Tue, Jun 14, 2022, and closes on Fri, Jun 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 Tue, Jun 14, 2022 and closes on Fri, Jun 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 Fri, Jun 24, 2022. Check the Scarnose International IPO allotment status.
The Scarnose International IPO listing date is on Mon, Jun 27, 2022.
