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Let’s have a detailed review of the company and analytics of the Karnika Industries IPO release date, IPO offer price, subscription, Karnika Industries Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.

Face Value Rs 10
Price Band Rs 76
Listing At BSE, NSE
Min. Order Quantity 1600 Shares
Listing Date October 13, 2023
Offer for Sale Rs Lakh
Fresh Issue Rs 2,507 Lakh
IPO Size Rs 2,507 Lakh
Tick Size 1

Karnika Industries IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.

Live Performance – Karnika Industries Share Price

Karnika Industries IPO – Summary

Karnika Industries IPOTheir Company was originally formed as a Partnership Firm under the Partnership Act, 1932 (“Partnership Act”) in the name and style of “Karni International” pursuant to the Deed of Partnership dated July 21, 2017.

Karni International was thereafter converted from Partnership Firm to a Public Limited Company under Part I Chapter XXI of the Companies Act, 2013 with the name and style of “Karnika Industries Limited” and received a Certificate of Incorporation from the Registrar of Companies, Kolkata.


Karnika Industries IPO Date

The opening and closing dates of Karnika Industries IPO are September 29, 2023 and October 5, 2023 respectively.

Karnika Industries IPO Subscription

Day / Date NII RII Total Subscription
1st Day – 29th Sep 0.10x 0.16x 0.13x
2nd Day – 3rd Oct 0.03x 0.46x 0.25x
3rd Day – 4th Oct 0.56x 0.90x 0.73x
4th Day – 5th Oct  0.87x 1.36x 1.12x
Shares Offered or Net Issue 1,566,400 1,566,400 3,299,200

The shares subscribed by the public will be updated here.

Karnika Industries IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.

Karnika Industries Limited IPO Listing Date

Find the dates below on basis of allotment, refund, listing, and more:

Basis of Allotment Finalization October 10, 2023
Refunds Initiation October 11, 2023
Credit of Shares to Demat Account October 12, 2023
Share Listing Date October 13, 2023

Karnika Industries IPO Price Band

The face value of each share is Rs.10, but the price band of the IPO is Rs.76

Karnika Industries IPO Equity Size

This Initial Public Issue of 3,299,200 Equity Shares of Rs.10 each for cash at a price of Rs.76 per equity share aggregating to Rs.2,507 Lakh.

Karnika Industries IPO Share Offering

Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 3,299,200 Equity Shares of Rs.10/ each.

Issue Size: 3,299,200 Equity Shares of Rs.10 each, aggregating to Rs.2,507 Lakh

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    Karnika Industries IPO – Live Performance

    The listing date of this IPO is October 13, 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.

    Live IPO Performance – Karnika Industries Share Price

    Karnika Industries IPO Grey Market Premium

    The Karnika Industries Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X. 

    Karnika Industries IPO – Company Overview

    Their Company is an ISO 14001:2015 certified manufacturer through job work, trader and exporter of garments. They basically manufacture through job work all types of kids wear i.e., shorts, joggers, capri, tees, rompers, sleep suits, pyjamas, winter wear, infant wear etc.

    They have constructed well-established manufacturing units for designing, preparation of sample, quality inspection, ironing and packing of Garments that is equipped with all the necessary hi-tech machines and tools that are required for a modern manufacturing unit. Machinery that is equipped in their infrastructure is operated by their highly experienced team of professionals.

    They are manufacturing the majority of their products through job work, and they are capable of undertaking bulk requirements of their clients and delivering within stipulated time schedule.

    Karnika Industries IPO – Financial Statements

    A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:

    Financial Summary:

    Amount (in INR & Lakh)
    31-Mar-23 12-Apr-22 31-Mar-22 Mar-21
    Total Assets 10071.04 6253.58 5921.42 3055.87
    *Total Revenue 12605.62 638.31 9892.52 4779.31
    Total Expense 11492.07 600.98 9175.51 4654.03
    Profit After Tax 826.74 25.67 454.01 81.61

    Earnings per Equity Share (in Lakh)

    31-Mar-23 12-Apr-22 31-Mar-22 Mar-21
    Basic & Diluted 9.66 0.37 6.49 1.17

    Further, their PAT for the period ended on March 31, 2023, Apr 12, 2022, March 31, 2022, and March 31, 2021, were Rs. 826.74 Lakh, Rs. 25.67 Lakh, Rs. 454.01 Lakh and Rs. 81.61 Lakh respectively.

    Karnika Industries IPO – Promoters

    The Promoter of this company is:


    List of Related Parties (Key Managerial Personnel)

    • Niranjan Mundhra, Chairman cum Managing Director
    • Shiv Shankar Mundhra, Whole-Time Director
    • Mahesh Kumar Mundhra, Whole-Time Director
    • Kirti Mundhra, Non-Executive Director

    Karnika Industries IPO – Promoters Holding

    • Pre-Issue Share Holding – 100.00%
    • Post-Issue Share Holding – 73.39%

    Karnika Industries IPO Offer Details or Issue Details

     Particulars  No. Of Equity Shares
     Equity Shares Offered  Up to 32,99,200 Equity Shares aggregating up to Rs.2507.39 Lakh
    of which:
    Issue Reserved for the Market Makers Up to 1,66,400 Equity Shares aggregating up to Rs.126.46
    Net Issue to the Public Up to 31,32,800 Equity Shares aggregating up to Rs.2380.93
    Of which:
    Retail Investors Portion Not less than 15,66,400 Equity Shares
    Other than Retail Individual Investors Not more than 15,66,400 Equity Shares
     Equity Shares outstanding prior to the Issue 91,00,300 Equity Shares
     Equity Shares outstanding after the Issue 1,23,99,500 Equity Shares

    Karnika Industries IPO Issue Object

    Their Company proposes to utilize the Net Proceeds towards funding the following objects:

    1. To Meet Working Capital Requirement
    2. General Corporate Purpose
    3. To Meet the Issue Expenses

    Karnika Industries IPO – Business Strategy

    • Develop cordial relationships with their Suppliers, Customers and employees
    • Optimal Utilization of Resources
    • Enhance product quality
    • Creativity
    • To Build Up a Professional Organization

    Karnika Industries IPO – Basis of Offer Price

    The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

    Qualitative factors are:

    • Diversified Product Portfolio
    • Consistency in Quality and Service Standards
    • Cost-effective production and timely fulfilment of orders
    • Scalable Business Model
    • Organizational stability along with management expertise

    The relevant quantitative factors are:

    Basic & Diluted EPS RONW (%) NAV (Rs.)
    31-Mar-23 9.66 45.76 19.85
    31-Mar-22 6.49 24.40 53.17
    Mar-21 1.17 21.58 10.80

    Karnika Industries IPO: Competitive Peers

    Face Value (Rs.) P/E EPS (Rs.) Return on Net Worth (%) NAV Per Share (Rs.)
    Karnika Industries Limited 10 7.57 9.66 45.76% 19.85
    Listed Peers
    S.P. Apparels Limited 10 8.91 36.02 12.62% 269.03
    Veekayem Fashion and
    Apparels Limited
    10 11.67 3.44 4.68% 63.34

    Karnika Industries IPO Lead Managers

    Lead Managers
    B 1311-1314, Thirteenth Floor, Shilp Corporate Park,
    Rajpath Rangoli Road, Thaltej, Ahmedabad- 380054,
    Gujarat, India.
    Tel. No.: +91-79-48407357
    Email: mb@beelinemb.com
    Website: www.beelinemb.com
    Investor Grievance Email: ig@beelinemb.com
    Contact Person: Mr. Nikhil Shah
    SEBI Registration No.: INM000012917

    Karnika Industries IPO Registrar to offer

    Registrar to the Offer
    D-153A, 1st Floor, Okhla Industrial Area
    Phase-I, New Delhi – 110020, India
    Tel. No.: 011-40450193-197
    Email: ipo@skylinerta.com
    Website: www.skylinerta.com
    Investor Grievance Email: grievances@skylinerta.com
    Contact Person: Mr. Anuj Kumar
    SEBI Registration No.: INR000003241

    Karnika Industries IPO – Other Details

    • Statutory Auditor – M/s A A A J & Associates, Chartered Accountants
    • Legal Counsel to the Company – ANA ADVISORS
    • Bankers to the Company – HDFC Bank Limited, AXIS Bank Limited and Kotak Mahindra Bank Limited 

    Karnika Industries IPO Review by Stock Brokers

    Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
    Angel Broking 7.5/10 7.4/10 8.5/10 8.1/10 7.1/10
    Sharekhan 7.2/10 7.1/10 8.6/10 8.1/10 7.2/10
    Kotak Securities 7.3/10 7.5/10 8.4/10 8.1/10 7.3/10
    ICICI Direct 7.3/10 7.3/10 8.7/10 8.1/10 7.1/10
    IIFL 7.5/10 7.2/10 8.8/10 8.0/10 7.1/10
    Edelweiss 7.5/10 7.4/10 8.4/10 8.3/10 7.2/10
    Zerodha 7.4/10 7.1/10 8.5/10 8.1/10 7.0/10
    5Paisa 7.1/10 7.1/10 8.4/10 8.1/10 7.1/10
    Karvy 7.4/10 7.3/10 8.2/10 8.1/10 7.1/10
    Motilal Oswal 7.1/10 7.1/10 8.6/10 8.3/10 7.2/10


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      Karnika Industries Limited IPO News

      News 1 – IPO DRHP Download

      News 2 – IPO RHP Prospectus Download

      Karnika Industries IPO Review FAQs

      Check out various FAQs related to Karnika Industries IPO:

      What is the Issue Size of Karnika Industries IPO?

      The Company is making an initial public offer of 3,299,200 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.

      What is the Price band of Karnika Industries IPO?

      The price band for this particular IPO ranges between Rs 76. As far as the face value of the share is concerned, it is Rs. 10 per share.

      What is the Karnika Industries IPO Open Date?

      The opening and closing dates for this IPO have been updated. The IPO is set to open on September 29, 2023, while the closing date is set for October 5, 2023.

      What is the Karnika Industries IPO Allotment Date?

      They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on October 10, 2023, refund initiation is on October 11, 2023, credit of shares is on October 12, 2023, and share listing date is on October 13, 2023.

      What is the Karnika Industries IPO Listing Date?

      Shares of this company shall be listed in the exchanges on October 13, 2023. The date, when the listing would be done, is stagnant on October 13, 2023.

      Who is the Registrar of Karnika Industries IPO?

      One of the reputed registrars is managing the issue of this IPO, i.e. SKYLINE FINANCIAL SERVICES PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.

      Who is the Promoter of Karnika Industries IPO?

      Here are the promoters of this IPO – MR. NIRANJAN MUNDHRA, MR. SHIV SHANKAR MUNDHRA AND MR. MAHESH KUMAR MUNDHRA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.

      What is the GMP of Karnika Industries?

      They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are also included in this report.

      Is Karnika Industries Good for Investment?

      They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.

      What is the PAT of Karnika Industries Company?

      They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Lakh is 826.74, 2022 is 454.01, and 2021 is 81.61. PAT from April 2022 is 25.67.

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      Asset Class ROI (Rs.) Profit (Rs.) Profit (%)
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