Karnika Industries IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Oct 05, 2023Let’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
Their 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.
The Promoter of this company is MR. NIRANJAN MUNDHRA, MR. SHIV SHANKAR MUNDHRA AND MR. MAHESH KUMAR MUNDHRA. The lead manager of the issue is BEELINE CAPITAL ADVISORS PRIVATE LIMITED, and the Registrar of this issue is SKYLINE FINANCIAL SERVICES PRIVATE LIMITED.
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:
- MR. NIRANJAN MUNDHRA,
- MR. SHIV SHANKAR MUNDHRA
- MR. MAHESH KUMAR MUNDHRA
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 Lakh |
| Net Issue to the Public | Up to 31,32,800 Equity Shares aggregating up to Rs.2380.93 Lakh |
| 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:
- To Meet Working Capital Requirement
- General Corporate Purpose
- 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 |
| BEELINE CAPITAL ADVISORS PRIVATE LIMITED 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 |
| SKYLINE FINANCIAL SERVICES PRIVATE LIMITED 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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